Solar Panel Cost Guide in Mill, OH (2024 Update)
- Mill Solar Installation Cost: $18,460
- 25-Year Savings: $19,115
- Payback Period: 14.0 Years
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Average Cost of Solar Panels in Mill
Find out what the average cost of solar panel installation is in Mill.
Although the national average of solar panels is $2.66 per watt, solar panels in Mill typically cost around 3.The average Mill homeowner needs a 7.7-kilowatt system, which would cost about $18,460 with the federal tax credit, or $26,398 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of going solar can vary depending on several factors, such as what size system you need, your energy consumption and what company you go with.But, after you've paid the initial cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $16,000 over 20 years on utility bills.
Click the button below to get connected to a vetted solar installer in your area for a custom estimate.
Solar savings over time in Mill
| Year | Return on Investment |
|---|---|
| 1 years | $-17,128 |
| 3 years | $-14,464 |
| 5 years | $-11,800 |
| 7 years | $-9,136 |
| 9 years | $-6,472 |
| 11 years | $-3,808 |
| 13 years | $-1,144 |
| 15 years | $1,520 |
| 17 years | $4,184 |
| 19 years | $6,848 |
| 21 years | $9,512 |
| 23 years | $12,176 |
| 25 years | $14,840 |
Top Solar Installers in Mill
Many homeowners opt for a solar installer since installing solar panels yourself can be a labor-intensive endeavor. The payback period of solar panels will vary depending on factors like your roof configuration and energy needs, but going with a solar installer can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in Mill:
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 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 Mill
Factors that Affect Solar Panel Costs in Mill
The cost of installing a solar system in Mill can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of a solar panel system in Mill, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by about $3,410 for each additional kilowatt you need.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 get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your power bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Mill average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are offered by most installers in Mill, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installation company you pick will influence your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor.The company’s size can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.55 | $14,895 | $10,687 | 14.6 years |
| 8 kW | $3.48 | $19,478 | $14,631 | 14.3 years |
| 10 kW | $3.41 | $23,870 | $18,767 | 14.0 years |
| 12 kW | $3.34 | $28,071 | $23,093 | 13.7 years |
| 14 kW | $3.27 | $32,081 | $27,610 | 13.4 years |
| 16 kW | $3.21 | $35,900 | $32,318 | 13.2 years |
| 18 kW | $3.14 | $39,529 | $37,217 | 12.9 years |
| 20 kW | $3.07 | $42,966 | $42,307 | 12.6 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Warranty: If you’re concerned about the durability of your solar panel system, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: When looking through your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
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 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 Mill, OH Solar Cost FAQs
How much does it cost to install solar panels in Mill?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Mill?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property 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 savings from going solar.
Is it worth going solar in Mill?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.