Solar Panel Cost Guide in Madison, AL (2024 Update)
- Madison Solar Installation Cost: $22,956
- 25-Year Savings: $11,206
- Payback Period: 21.0 Years
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Average Cost of Solar Panels in Madison
We break down average solar pricing in Madison.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Madison, the typical cost of solar panels is 3 per watt.The average Madison homeowner needs a 9.4-kilowatt system, which would cost about $22,956 with the federal tax credit, or $32,827 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Madison homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $12,000 over 20 years on utility bills.
To receive a free quote from a vetted solar installation company in Madison, you can click the button below.
Solar savings over time in Madison
| Year | Return on Investment |
|---|---|
| 1 years | $-21,600 |
| 3 years | $-18,887 |
| 5 years | $-16,174 |
| 7 years | $-13,461 |
| 9 years | $-10,748 |
| 11 years | $-8,035 |
| 13 years | $-5,322 |
| 15 years | $-2,610 |
| 17 years | $103 |
| 19 years | $2,816 |
| 21 years | $5,529 |
| 23 years | $8,242 |
| 25 years | $10,955 |
Top Solar Installers in Madison
Trying to install solar panels by yourself can be a time-consuming project, which is why getting a solar installation company is a good option for many homeowners. Local solar installers can also help you optimize your return on investment by walking you through any local incentives you can benefit from and by providing warranties and repairs.
If you’d like to go solar but still aren’t sure which solar company to go with, here are our recommendations for providers near you:
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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Madison
Factors that Affect Solar Panel Costs in Madison
Although the average cost of a solar system in Madison is $22,956, your final cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a solid option because they cut back your upfront costs and let you pay for your system over five to seven years on average.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar panel installer you choose will influence your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor.The size of the company sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater 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 down 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 | $3.63 | $15,244 | $2,201 | 21.8 years |
| 8 kW | $3.56 | $19,935 | $3,325 | 21.4 years |
| 10 kW | $3.49 | $24,430 | $4,645 | 21.0 years |
| 12 kW | $3.42 | $28,730 | $6,161 | 20.6 years |
| 14 kW | $3.35 | $32,834 | $7,871 | 20.2 years |
| 16 kW | $3.28 | $36,743 | $9,778 | 19.7 years |
| 18 kW | $3.21 | $40,456 | $11,879 | 19.3 years |
| 20 kW | $3.14 | $43,974 | $14,176 | 18.9 years |
How to Save on Solar Panels
The solar company you choose will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, such as:
- Warranty: If you’re worried about the endurance of your solar system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: Make sure you’re aligned with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Madison, AL Solar Cost FAQs
What is the average cost of installing solar panels in Madison?
The average cost of solar panels in Madison is about $17,450 for a 5-kW system and $34,900 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Madison?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
How long do solar panels last in Madison?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had 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.