Solar Panel Cost Guide in Madill, OK (Jan 2023)

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

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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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

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 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

System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. 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

Many homeowners find the average cost of solar in Madill to be too costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest. However, the interest on solar loans also increases your overall costs, so it's vital to include that in your estimate as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.

Solar Panel Installation Company

Lastly, the company you hire to install your solar system can affect your pricing. Madill's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — 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 go with the company that offers the products, warranties and services you want 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 $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

How to Save on Solar Panels

There are a large number of companies available 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:

  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can check your installer's reputation is by reading reviews.
  • Contract: Before signing a contract with a solar company, make sure to look it over completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
  • Solar Panel Brands: Different companies have various brands and types of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
  • Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.

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 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 things like the type 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 can't afford to pay upfront or get 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 financial benefits from going solar.

Do solar panels increase your property value?

Buying or financing solar panels for your home 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 could be looking at 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 rewarding investment.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.

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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