Solar Panel Cost Guide in Madisonville, TX (2024 Update)
- Madisonville Solar Installation Cost: $17,860
- 25-Year Savings: $22,873
- Payback Period: 12.0 Years
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Average Cost of Solar Panels in Madisonville
Let’s take a look at the average cost of solar in Madisonville.
While the national average of solar panels is $2.66 per watt, solar panels in Madisonville generally cost around 3.Because a 7.7-kW system is needed to cover the energy costs of a typical home in Madisonville, the average price of going solar will be about $17,860 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average Madisonville homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.But, once you've paid the initial cost of installation, the return on investment for most homeowners is usually fruitful, with a net average savings of about $18,000 over 20 years on energy bills.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Madisonville
| Year | Return on Investment |
|---|---|
| 1 years | $-16,561 |
| 3 years | $-13,964 |
| 5 years | $-11,367 |
| 7 years | $-8,770 |
| 9 years | $-6,173 |
| 11 years | $-3,575 |
| 13 years | $-978 |
| 15 years | $1,619 |
| 17 years | $4,216 |
| 19 years | $6,813 |
| 21 years | $9,410 |
| 23 years | $12,007 |
| 25 years | $14,604 |
Top Solar Installers in Madisonville
Many homeowners opt for a solar panel company since trying to put up solar panels yourself can be hard. Companies can also offer access to various kinds of the best solar panels and help you pick which one will be right for you.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Madisonville
Factors that Affect Solar Panel Costs in Madisonville
For many Madisonville homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Madisonville, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
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 about $3,330 per kilowatt in Madisonville.The brand and kind of equipment you choose for your solar system can increase or decrease 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 limited roof space 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 additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Madisonville to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest.Even though solar loans make adopting solar energy more accessible for Madisonville homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the massive popularity of sustainable energy solutions in Madisonville, you’ll have lots of options to choose from, but each comes at various price points 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 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 | $3.46 | $14,545 | $14,664 | 12.4 years |
| 8 kW | $3.40 | $19,021 | $19,926 | 12.2 years |
| 10 kW | $3.33 | $23,310 | $25,373 | 12.0 years |
| 12 kW | $3.26 | $27,413 | $31,007 | 11.7 years |
| 14 kW | $3.20 | $31,329 | $36,828 | 11.5 years |
| 16 kW | $3.13 | $35,058 | $42,835 | 11.3 years |
| 18 kW | $3.06 | $38,601 | $49,028 | 11.0 years |
| 20 kW | $3.00 | $41,958 | $55,408 | 10.8 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- 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.
- Contract: When looking over your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component 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 adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Different companies carry different brands and models of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Madisonville, TX Solar Cost FAQs
What is the average cost of installing solar panels in Madisonville?
The average cost of solar panels in Madisonville is about $16,650 for a 5-kW system and $33,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Madisonville?
A solar panel system isn’t free in Madisonville, 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 help lower the cost.
Can solar panels eliminate my energy bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Madisonville, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Madisonville?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.