Solar Panel Cost Guide in Madison, OH (Feb 2023)
- Madison Solar Installation Cost: $13,530
- 25-Year Savings: $19,514
- Payback Period: 10.2 Years
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Top Solar Installers in Madison
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Going with a solar panel installer can make your swap to solar power much easier. A solar installer can also help save you money in the long run by providing warranties, repairs and system component replacements.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
See all of the solar companies in Madison
Factors that Affect Solar Panel Costs in Madison
There are many factors that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are available from most installers in Madison, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. Though solar loans make adopting solar energy more accessible for Madison homeowners, they can also add to 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 solar company you go with to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Madison, and each can charge different amounts for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — 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 has the products, warranties and services you want and also fit into 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||$2.66||$11,182||$15,089||10.6 years|
|8 kW||$2.61||$14,623||$20,405||10.4 years|
|10 kW||$2.56||$17,920||$25,865||10.2 years|
|12 kW||$2.51||$21,074||$31,468||10.0 years|
|14 kW||$2.46||$24,084||$37,215||9.8 years|
|16 kW||$2.41||$26,952||$43,105||9.6 years|
|18 kW||$2.36||$29,676||$49,138||9.4 years|
|20 kW||$2.30||$32,256||$55,314||9.2 years|
How to Save on Solar Panels
The solar panel company you opt for will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, such as:
- Contract: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which model 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 take a look at their list of options before making your decision.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated 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.
EcoWatch's Madison, OH Solar Cost FAQs
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.