Solar Panel Cost Guide in Madisonville, KY (2025 Update)
- Madisonville Solar Installation Cost: $23,916
- 25-Year Savings: $10,556
- Payback Period: 14.5 Years
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Average Cost of Solar Panels in Madisonville
We go over average solar pricing in Madisonville.
The average cost of solar panels in Madisonville is 4 per watt.Using this figure, a typical 9.4-kW system would cost about $23,916 before the 0 federal solar tax credit is applied.
The true price you pay can be above or below the average in Madisonville based on several factors, such as the model of solar panels you choose and the solar installer you hire.Many homeowners find adopting solar power is a solid investment. The average homeowner in Madisonville can save about $17,000 on their energy bills over 20 years.
To get a free estimate from a highly rated solar installer in Madisonville, you can click the button below.
Solar savings over time in Madisonville
| Year | Return on Investment |
|---|---|
| 1 years | $-22,537 |
| 3 years | $-19,779 |
| 5 years | $-17,021 |
| 7 years | $-14,264 |
| 9 years | $-11,506 |
| 11 years | $-8,748 |
| 13 years | $-5,990 |
| 15 years | $-3,233 |
| 17 years | $-475 |
| 19 years | $2,283 |
| 21 years | $5,041 |
| 23 years | $7,799 |
| 25 years | $10,556 |
Top Solar Installers in Madisonville
Trying to put up solar panels by yourself can be a dangerous project, which is why using a solar installation company is a good option for many homeowners. The expertise that solar companies offer can be useful as well, particularly if you aren’t sure what type of solar equipment would be right for your home.
If you’d like to switch to solar energy but still aren’t sure which solar panel installer to go with, here are our recommendations for providers nearby:
See all of the solar companies in Madisonville
Factors that Affect Solar Panel Costs in Madisonville
Even though the average cost of a solar system in Madisonville is $23,916, your actual cost may differ. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production 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 $3,650.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Madisonville, 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 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 in cash is too expensive, solar loans are a popular choice because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.Though solar loans make adopting solar energy more accessible for Madisonville 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 avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can impact how much it costs. Madisonville’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and find a company that provides the products, warranties and services you’re looking for and also fits within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.80 | $15,943 | $10,485 | 15.1 years |
| 8 kW | $3.72 | $20,849 | $14,389 | 14.8 years |
| 10 kW | $3.65 | $25,550 | $18,497 | 14.5 years |
| 12 kW | $3.58 | $30,047 | $22,810 | 14.2 years |
| 14 kW | $3.50 | $34,339 | $27,327 | 13.9 years |
| 16 kW | $3.43 | $38,427 | $32,049 | 13.6 years |
| 18 kW | $3.36 | $42,311 | $36,974 | 13.3 years |
| 20 kW | $3.29 | $45,990 | $42,105 | 13.1 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one mark of a good company.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: The brand of solar panel you need plays a part in which installer you should opt for, since different companies provide different panels.
EcoWatch's Madisonville, KY Solar Cost FAQs
What is the average cost of installing solar panels in Madisonville?
The average cost of solar panels in Madisonville is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual 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 cost the most important thing to keep in mind when buying solar panels?
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 think about are the quality and durability of your solar panels.
Can solar panels eliminate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $880.95 per year.
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 after having 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.