Solar Panel Cost Guide in Madison, IL (Oct 2022)

  • Madison Solar Installation Cost: $11,657
  • 25-Year Savings: $8,173
  • Payback Period: 14.7 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Madison

Find out what the average cost of installing solar panels is in Madison.

The national average cost of solar panels is $2.66 per watt, but in Madison it's $3 per watt. Using this figure, a typical 6.1 would cost about $11,657 before the 30% federal solar tax credit is applied.

The true cost of your system can go above or below the average in Madison depending on several factors, such as the type of solar panels you choose and the solar company you hire. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Madison can save about $12,000 on their power bills over 20 years.

Click the button below to get connected to a vetted solar installer in Madison for a customized quote.

Solar savings over time in Madison

Year Return on Investment
1 years $-10,864
3 years $-9,277
5 years $-7,691
7 years $-6,105
9 years $-4,518
11 years $-2,932
13 years $-1,345
15 years $241
17 years $1,827
19 years $3,414
21 years $5,000
23 years $6,587
25 years $8,173

Top Solar Installers in Madison

Putting up solar panels yourself can be a time-consuming project, which is why getting a solar installation company is a good option for many homeowners. Plus, if you're not certain what type of solar panels and equipment you may need, a solar company can help you find the right equipment for you after a site survey and consultation.

There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • 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

There are many criteria that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.

Solar Equipment Size

The cost of solar panels varies by thousands of dollars due to some different factors. One of the notable factors is the system size. Solar power systems that have higher efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,730. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Madison, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Madison homeowners choose to finance their solar panel systems to make paying for solar more affordable. Even though solar loans make switching to solar energy more accessible for Madison homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

Finally, the company you choose to install your solar panel system can affect how much you pay. Madison's solar companies all have different labor costs and add varying upcharges to equipment. The company's size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount 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 $2.84 $11,925 $7,586 15.3 years
8 kW $2.78 $15,594 $10,421 15.0 years
10 kW $2.73 $19,110 $13,409 14.7 years
12 kW $2.68 $22,473 $16,549 14.4 years
14 kW $2.62 $25,684 $19,842 14.1 years
16 kW $2.57 $28,741 $23,288 13.8 years
18 kW $2.51 $31,646 $26,887 13.5 years
20 kW $2.46 $34,398 $30,639 13.2 years

Solar Incentives in Madison

Name Special Assessment for Solar Energy Systems
Incentive Amount Varies
More Info Click here

Name Solar Renewable Energy Credits
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:

  • Installation Process: When making the switch to solar, it's necessary to maintain an open line of communication with your solar panel company. Confirm that you understand how the installation process will go and the completion timeline.
  • 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 you can expect about the installation process.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
  • Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • 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, IL Solar Cost FAQs

What is the average cost of installing solar panels in Madison?

The average cost of solar panels in Madison is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.

What other factors should I consider in addition to cost when buying solar panels?

The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.

Does Madison have a net metering program?

Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

How often do you have to replace solar panels?

Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using 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.

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