Solar Panel Cost Guide in Milliken, CO (2024 Update)
- Milliken Solar Installation Cost: $14,608
- 25-Year Savings: $16,888
- Payback Period: 13.6 Years
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Average Cost of Solar Panels in Milliken
Find out what the average cost of installing solar panels is in Milliken.
In Milliken, solar panels cost about 4 per watt on average.To cover the typical energy needs of the average home in Milliken, most homeowners require a 5.2-kilowatt system. Using the figure above, a solar installation costs about $14,608, or $20,889 before the federal solar tax credit of 0 is applied.
How much you pay can go higher or lower than the average in Milliken depending on a variety of factors, such as the type of solar panels you choose and the solar company you hire.With average savings of about $19,000 on power bills over 20 years, many homeowners in Milliken find installing solar panels has a decent ROI.
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Solar savings over time in Milliken
| Year | Return on Investment |
|---|---|
| 1 years | $-13,640 |
| 3 years | $-11,704 |
| 5 years | $-9,768 |
| 7 years | $-7,831 |
| 9 years | $-5,895 |
| 11 years | $-3,959 |
| 13 years | $-2,023 |
| 15 years | $-87 |
| 17 years | $1,850 |
| 19 years | $3,786 |
| 21 years | $5,722 |
| 23 years | $7,658 |
| 25 years | $9,595 |
Top Solar Installers in Milliken
When going solar, many homeowners opt to go with a solar company since DIY solar panel installation can be a time-consuming project. In addition, if you’d like to maximize your investment in solar, going with a solar installer can help with that as well. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives and net metering programs.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Milliken
Factors that Affect Solar Panel Costs in Milliken
Although the average cost of a solar system in Milliken is $14,608, your actual cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,980. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your electric bills. In addition, extra products, like solar batteries, can bring your total well above the Milliken average.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a popular choice because they decrease your upfront costs and allow you to pay for your system over five to seven years on average.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the massive popularity of green energy solutions in Milliken, you’ll have a great number of options to choose from, but each comes at varying price points for labor and 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 access to specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $4.14 | $17,385 | $13,238 | 14.2 years |
| 8 kW | $4.06 | $22,734 | $18,097 | 13.9 years |
| 10 kW | $3.98 | $27,860 | $23,178 | 13.6 years |
| 12 kW | $3.90 | $32,763 | $28,482 | 13.4 years |
| 14 kW | $3.82 | $37,444 | $34,010 | 13.1 years |
| 16 kW | $3.74 | $41,901 | $39,760 | 12.8 years |
| 18 kW | $3.66 | $46,136 | $45,733 | 12.6 years |
| 20 kW | $3.58 | $50,148 | $51,928 | 12.3 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose considerably affects your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Contract: When looking through your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of options before deciding.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Milliken, CO Solar Cost FAQs
How much does it cost to install solar panels in Milliken?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $19,900 for a 5-kW system and $39,800 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
What other factors should I consider other than cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is making the switch to solar worth it?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
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 the average daily 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 get between 20 and 35 panels to account for 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.