Solar Panel Cost Guide in Madison, MS (Nov 2022)

  • Madison Solar Installation Cost: $15,431
  • 25-Year Savings: $18,924
  • Payback Period: 11.2 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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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 $3 per watt. Using this figure, a typical 8.3 would cost about $15,431 before the 30% federal solar tax credit is applied.

How much you pay can be higher or lower than the average in Madison based on a variety of factors, such as the kind of solar panels you choose and the solar company you hire. Many homeowners find going solar is a solid investment. The average homeowner in Madison can save around $16,000 on their electricity bills over 20 years.

To receive a free quote from a top solar company in Madison, you can click the button below.

Solar savings over time in Madison

Year Return on Investment
1 years $-14,057
3 years $-11,308
5 years $-8,560
7 years $-5,811
9 years $-3,063
11 years $-315
13 years $2,434
15 years $5,182
17 years $7,930
19 years $10,679
21 years $13,427
23 years $16,176
25 years $18,924

Top Solar Installers in Madison

Although you can install solar panels yourself, it takes extra energy and expertise. That's one of the reasons most homeowners choose to hire a solar panel installer. Companies can also provide access to quality options of the best solar panels and help you choose which one will be right for your family.

If you'd like to switch to solar energy but still aren't certain which solar system installer to go with, here are our recommendations for providers near you:

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 Technology

Tesla Energy

★★★★★
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

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

See all of the solar companies in Madison

Factors that Affect Solar Panel Costs in Madison

Although the average cost of solar panels in Madison is $15,431, your final cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.

Solar Equipment

When it comes to estimating the cost of a solar panel system in Madison, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can gauge by looking at past electricity bills. Your overall cost can increase by around $2,640 for each additional kilowatt you need. The brand of solar panels and equipment you want is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.

Solar Financing Terms

Many homeowners find the average cost of solar in Madison to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.

Solar Panel Installation Company

The solar installer you opt for to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies in Madison, and each can charge varying amounts for labor and equipment. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $2.75 $11,532 $13,159 11.7 years
8 kW $2.69 $15,080 $17,841 11.5 years
10 kW $2.64 $18,480 $22,671 11.2 years
12 kW $2.59 $21,732 $27,649 11.0 years
14 kW $2.53 $24,837 $32,774 10.8 years
16 kW $2.48 $27,794 $38,047 10.6 years
18 kW $2.43 $30,603 $43,469 10.3 years
20 kW $2.38 $33,264 $49,038 10.1 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 models and price points. To help you select the right company for you, here are some tips to keep in mind:

  • Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, project timeline rebates and warranties.
  • Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
  • Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.

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 Technology

Tesla Energy

★★★★★
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

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Madison, MS Solar Cost FAQs

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

The average cost of solar panels in Madison is about $13,200 for a 5-kW system and $26,400 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.

Can you get solar panels for free in Madison?

Solar panels aren't free in Madison, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.

Can you sell solar power back to the grid in Madison?

Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future utility bills.

How long do solar panels last in Madison?

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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