Solar Panel Cost Guide in Mills, WY (2023 Update)
- Mills Solar Installation Cost: $26,857
- 25-Year Savings: $48,105
- Payback Period: 9.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Mills
Let's have a look at the average cost of solar panels in Mills.
The national average cost of solar panels is $2.66 per watt, but in Mills it's 2.57 per watt. To cover the typical energy needs of the average home in Mills, most homeowners require a 14.9-kilowatt system. Using the figure above, a solar installation costs around $26,859, or $38,408 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of solar system you want, your solar contractor and more. Many homeowners find going solar is a sound investment. The average homeowner in Mills can save about $19,000 on their electricity bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Mills for a quote for your home.
Solar savings over time in Mills
| Year | Return on Investment |
|---|---|
| 1 years | $-26,607 |
| 3 years | $-26,108 |
| 5 years | $-25,608 |
| 7 years | $-25,108 |
| 9 years | $-24,609 |
| 11 years | $-24,109 |
| 13 years | $-23,609 |
| 15 years | $-23,109 |
| 17 years | $-22,610 |
| 19 years | $-22,110 |
| 21 years | $-21,610 |
| 23 years | $-21,110 |
| 25 years | $-20,611 |
Top Solar Installers in Mills
Installing solar panels by yourself can be a challenging task, which is why hiring a solar installation company is a good option for many homeowners. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Solar Veteran
Creative Energies
- Certified B Corp
- Outstanding customer service
- Many years of experience
- Multitude of products and services
- No leases or PPAs
- Slightly expensive
See all of the solar companies in Mills
Factors that Affect Solar Panel Costs in Mills
The cost of installing a solar system in Mills can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,570. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Mills to be too costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest. However, the interest on solar loans also adds to your overall costs, so it's important to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you choose to install your solar system can affect your pricing. Mills' solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.67 | $11,226 | $18,901 | 9.3 years |
| 8 kW | $2.62 | $14,680 | $25,490 | 9.1 years |
| 10 kW | $2.57 | $17,990 | $32,222 | 9.0 years |
| 12 kW | $2.52 | $21,156 | $39,098 | 8.8 years |
| 14 kW | $2.47 | $24,179 | $46,118 | 8.6 years |
| 16 kW | $2.42 | $27,057 | $53,282 | 8.4 years |
| 18 kW | $2.36 | $29,791 | $60,590 | 8.2 years |
| 20 kW | $2.31 | $32,382 | $68,042 | 8.1 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Installation Process: When going solar, it's crucial to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process will go and the completion timeline.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
Solar Veteran
Creative Energies
- Certified B Corp
- Outstanding customer service
- Many years of experience
- Multitude of products and services
- No leases or PPAs
- Slightly expensive
EcoWatch's Mills, WY Solar Cost FAQs
How much does it cost to install solar panels in Mills?
The average cost of solar panels in Mills is about $12,850 for a 5-kW system and $25,700 for a 10-kW system before the ITC, but the actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Mills?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Does Mills have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.