Solar Panel Cost Guide in Madill, OK (Sep 2022)

  • Madill Solar Installation Cost: $15,332
  • 25-Year Savings: $24,612
  • Payback Period: 9.6 Years

See cost of a solar system near you:

GET QUOTES
EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Madill

See how much it might cost to install solar panels in Madill.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Madill, the average cost of solar panels is $3 per watt. The average Madill homeowner needs a 8.4-kilowatt system, which would cost about $15,332, or $11,346 after the federal solar tax credit of 30% is applied.

The true cost of your system can be higher or lower than the average in Madill based on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire. But, after you've paid the initial cost of installation, the savings for most homeowners is quite good, with a net average savings of about $18,000 over 20 years on power bills.

To calculate your potential savings and connect with a local solar installer, click the button below.

Solar savings over time in Madill

Year Return on Investment
1 years $-13,734
3 years $-10,539
5 years $-7,343
7 years $-4,148
9 years $-952
11 years $2,243
13 years $5,439
15 years $8,634
17 years $11,830
19 years $15,025
21 years $18,221
23 years $21,416
25 years $24,612

Top Solar Installers in Madill

DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Hiring an installer can make your swap to solar power much easier. The expertise that solar installers provide can be useful as well, particularly if you don't quite know what brand of solar equipment would be right for your home.

You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some 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

The Green Panel

★★★★★
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 Madill

Factors that Affect Solar Panel Costs in Madill

The cost of installing a solar system in Madill can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.

Solar Equipment Size

Size is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Madill, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Madill, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. Even though solar loans make going solar more accessible for Madill homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

A final consideration when trying to figure out the cost of solar for your home or business in Madill is the company you hire to install your PV system. Similar to choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services for different budgets. Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have 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 $2.72 $11,444 $17,235 10.0 years
8 kW $2.67 $14,965 $23,274 9.8 years
10 kW $2.62 $18,340 $29,459 9.6 years
12 kW $2.57 $21,568 $35,791 9.4 years
14 kW $2.52 $24,649 $42,270 9.2 years
16 kW $2.46 $27,583 $48,895 9.0 years
18 kW $2.41 $30,371 $55,668 8.8 years
20 kW $2.36 $33,012 $62,586 8.6 years

Solar Incentives in Madill

Name Red River Valley REA - Heat Pump Loan Program
Incentive Amount
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

There are numerous companies to choose from in Madill, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:

  • Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
  • Contract: When reading through your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
  • Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
  • Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.

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

The Green Panel

★★★★★
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 Madill, OK Solar Cost FAQs

How much does it cost to install solar panels in Madill?

The average cost of solar panels in Madill is about $13,100 for a 5-kW system and $26,200 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.

Is it better to lease or buy solar panels in Madill?

Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.

Do solar panels increase your home value?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Madill is currently $83,600, which means you can expect about a value of about $3,428 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Madill is a fruitful investment.

What solar power system size is right for 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 home 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.

solar panel and sunny sky
Invest in clean solar energy, save thousands of dollars.

Save $$ on your electricity bill by getting a free quote today.

Follow us