Solar Panel Cost Guide in Milton, WI (2023 Update)
- Milton Solar Installation Cost: $13,184
- 25-Year Savings: $24,141
- Payback Period: 8.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Milton
Find out what the average cost of solar panels are in Milton.
While the national average of solar panels is $2.66 per watt, solar panels in Milton generally cost about 2.6. Since a 7.2-kW system is needed to cover the energy usage of a typical home in Milton, the average price of going solar will be about $13,177 after claiming the federal solar tax credit of 30%.
The true cost of your system can go higher or lower than the average in Milton depending on several factors, such as the model of solar panels you choose and the solar company you hire. With average savings of about $20,000 on power bills over 20 years, many homeowners in Milton find investing in solar can be quite rewarding.
Click the button below to get connected to a top solar panel company in your area for a personalized estimate.
Solar savings over time in Milton
| Year | Return on Investment |
|---|---|
| 1 years | $-11,888 |
| 3 years | $-9,297 |
| 5 years | $-6,706 |
| 7 years | $-4,115 |
| 9 years | $-1,524 |
| 11 years | $1,066 |
| 13 years | $3,657 |
| 15 years | $6,248 |
| 17 years | $8,839 |
| 19 years | $11,430 |
| 21 years | $14,021 |
| 23 years | $16,612 |
| 25 years | $19,203 |
Top Solar Installers in Milton
When going solar, many homeowners opt to use a solar company since DIY solar panel installation can be a time-consuming project. The payback period on a solar system will vary depending on factors like your location and energy consumption, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you identify incentives available in your area.
Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Milton
Factors that Affect Solar Panel Costs in Milton
The cost of installing a solar system in Milton can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the cost of a solar system in Milton, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can gauge by looking at past energy bills. Your overall cost can increase by around $2,600 for each additional kilowatt you need. There are many different solar panel brands and the one you choose also affects the cost. Usually, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Milton homeowners opt to finance their solar panel systems to offset upfront costs. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Milton is the company you hire to install your PV system. As with choosing a company to build a deck or pool, for instance, there are plenty of solar installers that offer a range of services for different budgets. Additionally, some companies in Milton know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.70 | $11,357 | $19,558 | 9.2 years |
| 8 kW | $2.65 | $14,851 | $26,369 | 9.0 years |
| 10 kW | $2.60 | $18,200 | $33,325 | 8.8 years |
| 12 kW | $2.55 | $21,403 | $40,427 | 8.7 years |
| 14 kW | $2.50 | $24,461 | $47,675 | 8.5 years |
| 16 kW | $2.44 | $27,373 | $55,068 | 8.3 years |
| 18 kW | $2.39 | $30,139 | $62,607 | 8.1 years |
| 20 kW | $2.34 | $32,760 | $70,291 | 7.9 years |
How to Save on Solar Panels
The solar company you choose will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, including:
- Solar Panel Brands: The model of solar panel you need to get plays a role in which installer you should go with, since different companies have different panels.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely offer good-quality solar panel installation and expertise.
- Contract: Before signing a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Milton, WI Solar Cost FAQs
What is the average cost of installing solar panels in Milton?
The average cost of solar panels in Milton is about $13,000 for a 5-kW system and $26,000 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Milton?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can solar panels eliminate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,030.51 per year.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.