Solar Panel Cost Guide in Madisonville, TX (Nov 2022)

  • Madisonville Solar Installation Cost: $14,424
  • 25-Year Savings: $22,877
  • Payback Period: 9.7 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Madisonville

See how much it might cost to switch to solar power in Madisonville.

Although the national average of solar panels is $2.66 per watt, solar panels in Madisonville typically cost around $3. Since a 7.7-kW system is needed to cover the energy needs of a typical home in Madisonville, the average price of going solar will be about $14,424 before claiming the federal solar tax credit of 30%.

Bear in mind that the figures above are only estimates based on the average Madisonville homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. With typical savings of about $18,000 on utility bills over 20 years, many homeowners in Madisonville find installing solar panels has a decent ROI.

For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Madisonville

Year Return on Investment
1 years $-12,932
3 years $-9,948
5 years $-6,964
7 years $-3,980
9 years $-996
11 years $1,988
13 years $4,972
15 years $7,957
17 years $10,941
19 years $13,925
21 years $16,909
23 years $19,893
25 years $22,877

Top Solar Installers in Madisonville

Trying to install solar panels on your own can be a challenging project, which is why hiring a solar installer is a good option for many homeowners. Some solar companies, especially local ones, can help you take advantage of incentives in Madisonville, thereby optimizing your ROI.

If you're looking for a solar installer in Madisonville, we've put together a list of our top suggestions here:

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 Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • 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

Although the average cost of solar panels in Madisonville is $14,424, your final cost may differ. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.

Solar Equipment

One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $2,690 per kilowatt in Madisonville. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

If paying for a solar system in cash is difficult, solar loans are a solid route because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.

Solar Panel Installation Company

Lastly, the company you hire to install your solar system can impact your pricing. Madisonville's solar companies all have different labor costs and add varying upcharges to equipment. You may see 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 promotions to compete with those larger companies.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $2.80 $11,750 $17,460 10.1 years
8 kW $2.74 $15,365 $23,581 9.9 years
10 kW $2.69 $18,830 $29,853 9.7 years
12 kW $2.64 $22,144 $36,276 9.5 years
14 kW $2.58 $25,308 $42,849 9.3 years
16 kW $2.53 $28,320 $49,573 9.1 years
18 kW $2.47 $31,182 $56,447 8.9 years
20 kW $2.42 $33,894 $63,472 8.7 years

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:

  • Reputation: Companies that have been operating for many years likely have a solid 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 offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
  • Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
  • Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.

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 Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • 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 $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the actual cost will depend on things 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 Madisonville?

Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.

Is going solar worth it?

Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.

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 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 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.

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