Solar Panel Cost Guide in Madison, MI (2025 Update)
- Madison Solar Installation Cost: $17,337
- 25-Year Savings: $23,023
- Payback Period: 12.4 Years
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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 4 per watt.Using this figure, a typical 6.1-kW system would cost about $17,337 before the 0 federal solar tax credit is applied.
The actual price you pay can go higher or lower than the average in Madison depending on a few factors, such as the model of solar panels you choose and the solar installer you hire.Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Madison can save around $22,000 on their power bills over 20 years.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Madison
| Year | Return on Investment |
|---|---|
| 1 years | $-16,083 |
| 3 years | $-13,576 |
| 5 years | $-11,068 |
| 7 years | $-8,561 |
| 9 years | $-6,053 |
| 11 years | $-3,546 |
| 13 years | $-1,039 |
| 15 years | $1,469 |
| 17 years | $3,976 |
| 19 years | $6,484 |
| 21 years | $8,991 |
| 23 years | $11,498 |
| 25 years | $14,006 |
Top Solar Installers in Madison
Trying to put up solar panels on your own can be a stressful task, which is why using a solar installer is a good option for many homeowners. Another upside of going with a solar company is that they can help you optimize your return of investment by cutting back on future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
If you’d like to start using solar energy but still aren’t sure which solar installer to go with, here are our recommendations for providers in Madison:
See all of the solar companies in Madison
Factors that Affect Solar Panel Costs in Madison
Though the average cost of a solar system in Madison is $17,337, your final cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $4,060.There are many different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Madison homeowners decide to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also increases your all-in costs, so it’s important to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar company you select will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and go with the company that has the products, warranties and services you’re looking for and also is 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 | $4.22 | $17,734 | $16,713 | 12.9 years |
| 8 kW | $4.14 | $23,191 | $22,739 | 12.6 years |
| 10 kW | $4.06 | $28,420 | $28,992 | 12.4 years |
| 12 kW | $3.98 | $33,422 | $35,472 | 12.1 years |
| 14 kW | $3.90 | $38,196 | $42,180 | 11.9 years |
| 16 kW | $3.82 | $42,744 | $49,115 | 11.6 years |
| 18 kW | $3.74 | $47,064 | $56,277 | 11.4 years |
| 20 kW | $3.65 | $51,156 | $63,667 | 11.1 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable 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 good reviews from previous customers.
- Contract: It’s important to read through your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
EcoWatch's Madison, MI Solar Cost FAQs
What is the average cost of installing solar panels in Madison?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or cheaper 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 install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,148.23 per year.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.