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
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Madison
We break down average solar pricing in Madison.
The average cost of a solar system in Madison is 3 per watt.Because a 7.7-kW system is needed to cover the energy needs of a typical home in Madison, the average price of going solar will be about $18,058 after claiming the federal solar tax credit of 0.
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.For most homeowners, the upfront investment in solar power is worth paying. On average homeowners in Madison see about $23,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar company 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 | $-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
Many homeowners decide to use a solar panel company since trying to put up solar panels by yourself can be challenging. The payback period on an investment in solar panels will vary based on factors like your location and energy needs, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Madison
Factors that Affect Solar Panel Costs in Madison
For many Madison homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Madison, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production need 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 $3,340.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Madison, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable option because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.Although solar loans make switching to solar energy more accessible for Madison homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Madison, you’ll have plenty of options to choose from, but each comes at varying price points for labor and equipment.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 company you choose will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, such as:
- 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.
- Installation Process: When going solar, it’s necessary to maintain an open line of communication with your solar installer. Confirm that you understand how the installation process works and the project timeline.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Madison, KS Solar Cost FAQs
What is the average cost of installing solar panels in Madison?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $16,700 for a 5-kW system and $33,400 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Are solar panels free in Madison?
You can’t get solar panels for free in Madison. However, you may still be able to afford 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 good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy 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 need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.