Solar Panel Cost Guide in Madison, KS (2024 Update)
- Madison Solar Installation Cost: $18,058
- 25-Year Savings: $32,063
- Payback Period: 9.8 Years
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Average Cost of Solar Panels in Madison
We break down average solar pricing in Madison.
In Madison, solar panels cost about 3 per watt on average.The average Madison homeowner needs a 7.7-kilowatt system, which would cost about $18,058 with the federal tax credit, or $25,823 before the 0 tax credit is applied.
These figures are just estimates, and the cost of going solar for you will differ based on your specific situation and what company you go with.For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $23,000 in savings on utility bills over 20 years.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Madison
| Year | Return on Investment |
|---|---|
| 1 years | $-16,713 |
| 3 years | $-14,025 |
| 5 years | $-11,336 |
| 7 years | $-8,647 |
| 9 years | $-5,958 |
| 11 years | $-3,269 |
| 13 years | $-580 |
| 15 years | $2,108 |
| 17 years | $4,797 |
| 19 years | $7,486 |
| 21 years | $10,175 |
| 23 years | $12,864 |
| 25 years | $15,553 |
Top Solar Installers in Madison
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Hiring a solar panel installer can make swapping over to solar power much easier. Some solar installers, especially local ones, can help you better understand incentives in Madison, therefore optimizing your ROI.
If you're searching for a solar installer in Madison, the EcoWatch team has organized a list of our top suggestions here:
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 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
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that determine your overall cost in Madison: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,340. The kind of solar equipment you choose can increase or decrease your cost 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 in the long run on your energy bills. In addition, extra products, such as solar batteries, can bring your total well above the Madison average.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are an affordable choice because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of loans, 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Madison is the company you hire to install your solar system. As with choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that offer a range of services at different costs.The company’s size sometimes plays the most significant role in the installation 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 down to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.47 | $14,589 | $21,196 | 10.2 years |
| 8 kW | $3.41 | $19,078 | $28,636 | 10.0 years |
| 10 kW | $3.34 | $23,380 | $36,263 | 9.8 years |
| 12 kW | $3.27 | $27,495 | $44,076 | 9.6 years |
| 14 kW | $3.21 | $31,423 | $52,077 | 9.4 years |
| 16 kW | $3.14 | $35,164 | $60,265 | 9.2 years |
| 18 kW | $3.07 | $38,717 | $68,639 | 9.0 years |
| 20 kW | $3.01 | $42,084 | $77,201 | 8.8 years |
How to Save on Solar Panels
The solar installer you go with will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, including:
- 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 past customers and solar experts like EcoWatch.
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
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 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, KS Solar Cost FAQs
How much does it cost to install solar panels in Madison?
The average cost of solar panels in Madison is about $16,700 for a 5-kW system and $33,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Madison?
You can’t get solar panels for free in Madison. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Madison?
Solar panels can be a fruitful investment for a majority 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 power bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.