Solar Panel Cost Guide in Madison, GA (2024 Update)
- Madison Solar Installation Cost: $17,386
- 25-Year Savings: $22,423
- Payback Period: 12.7 Years
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Average Cost of Solar Panels in Madison
Find out how much it might cost to make the switch to solar in Madison.
The average cost of a solar panel system in Madison is 4 per watt.Because a 6.6-kW system is needed to cover the energy consumption of a typical home in Madison, the average price of going solar will be about $17,386 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average Madison homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find adopting solar power is a solid investment. The average homeowner in Madison can save around $20,000 on their electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Madison that can help you get a more accurate cost estimate for your home.
Solar savings over time in Madison
| Year | Return on Investment |
|---|---|
| 1 years | $-15,792 |
| 3 years | $-12,606 |
| 5 years | $-9,419 |
| 7 years | $-6,233 |
| 9 years | $-3,047 |
| 11 years | $140 |
| 13 years | $3,326 |
| 15 years | $6,513 |
| 17 years | $9,699 |
| 19 years | $12,886 |
| 21 years | $16,072 |
| 23 years | $19,259 |
| 25 years | $22,445 |
Top Solar Installers in Madison
Although it's possible to install solar panels by yourself, it involves extra time and expertise. That's why most homeowners choose a solar panel installer. Another advantage of using a solar installer is that they can help you optimize your investment by bringing down your future costs of repairs and replacements due to warranties and helping you learn about local incentives you can take advantage of.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Madison
Factors that Affect Solar Panel Costs in Madison
There are many criteria that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay around $3,740 per kilowatt in Madison.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your energy bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Madison average.
Solar Financing Terms
Most solar installers in Madison provide solar loans, which reduce your upfront costs of installing solar.Even though solar loans make adopting solar energy more accessible for Madison homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The remaining significant cost factor you should consider is the installer you choose. Given the massive popularity of renewable energy solutions in Madison, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to 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 | $3.89 | $16,336 | $14,632 | 13.2 years |
| 8 kW | $3.81 | $21,363 | $19,929 | 12.9 years |
| 10 kW | $3.74 | $26,180 | $25,434 | 12.7 years |
| 12 kW | $3.67 | $30,788 | $31,150 | 12.4 years |
| 14 kW | $3.59 | $35,186 | $37,074 | 12.2 years |
| 16 kW | $3.52 | $39,375 | $43,208 | 11.9 years |
| 18 kW | $3.44 | $43,354 | $49,552 | 11.7 years |
| 20 kW | $3.37 | $47,124 | $56,105 | 11.4 years |
How to Save on Solar Panels
There are many companies available in Madison, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: The brand of solar panel you need to install plays a part in which installer you should choose, since different companies have different panels.
- Warranty: If you’re concerned about the longevity of your solar system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Contract: Before signing a contract with a solar installer, make sure to look it over completely so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Madison, GA Solar Cost FAQs
How much does it cost to install solar panels in Madison?
The average cost of solar panels in Madison is about $18,700 for a 5-kW system and $37,400 for a 10-kW system before the ITC, but the real 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.
Is it better to lease or buy solar panels in Madison?
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 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 bang for your buck from going solar.
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 let you sell power back to the grid, but others just give 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 the average daily sunlight your roof gets. You can 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.