Solar Panel Cost Guide in Madison, NJ (2025 Update)
- Madison Solar Installation Cost: $11,808
- 25-Year Savings: $14,672
- Payback Period: 13.2 Years
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Average Cost of Solar Panels in Madison
Let’s have a look at the average cost of solar in Madison.
The national average cost of solar panels is $2.66 per watt, but in Madison it’s 4 per watt.The average Madison homeowner needs a 4.8-kilowatt system, which would cost about $11,808 with the federal tax credit, or $16,885 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Madison homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find going solar is a fruitful investment. The average homeowner in Madison can save about $18,000 on their power bills over 20 years.
To calculate 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 | $-10,749 |
3 years | $-8,630 |
5 years | $-6,512 |
7 years | $-4,394 |
9 years | $-2,275 |
11 years | $-157 |
13 years | $1,962 |
15 years | $4,080 |
17 years | $6,198 |
19 years | $8,317 |
21 years | $10,435 |
23 years | $12,554 |
25 years | $14,672 |
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 be a headache. Taking advantage of a solar company can make your switch to solar power much easier. Local solar installers can also help you optimize your return on investment by walking you through any local incentives and by providing warranties and repairs.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Madison
Factors that Affect Solar Panel Costs in Madison
There are a number of factors that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend around $3,530 per kilowatt in Madison.There are a lot of different solar panel brands and the one you choose also changes the cost. In general, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are offered by most installers in Madison, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also adds to your total costs, so it’s vital to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can influence the cost. Madison’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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 | $3.67 | $15,419 | $12,680 | 13.7 years |
8 kW | $3.60 | $20,163 | $17,302 | 13.5 years |
10 kW | $3.53 | $24,710 | $22,122 | 13.2 years |
12 kW | $3.46 | $29,059 | $27,139 | 12.9 years |
14 kW | $3.39 | $33,210 | $32,354 | 12.7 years |
16 kW | $3.32 | $37,164 | $37,767 | 12.4 years |
18 kW | $3.25 | $40,920 | $43,377 | 12.1 years |
20 kW | $3.18 | $44,478 | $49,186 | 11.9 years |
How to Save on Solar Panels
There are numerous companies to choose from in Madison, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Your solar installer should have a solid 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 previous customers.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
- Contract: It’s important to read through your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Madison, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Madison?
The average cost of solar panels in Madison is about $17,650 for a 5-kW system and $35,300 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 consume.
Is cost the most important thing to consider when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How will installing solar panels impact how much my home is worth?
Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires 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 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.