Solar Panel Cost Guide in Madison Heights, VA (Oct 2022)

  • Madison Heights Solar Installation Cost: $14,899
  • 25-Year Savings: $22,663
  • Payback Period: 9.9 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Madison Heights

Find out what the average cost of installing solar panels is in Madison Heights.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Madison Heights, the typical cost of solar panels is $3 per watt. The average Madison Heights homeowner needs a 7.7-kilowatt system, which would cost about $14,899, or $11,025 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of making the switch to solar can vary depending on several factors, such as how many panels you need, your energy consumption and what installation company you go with. For most homeowners, the upfront cost of solar is worth paying. On average homeowners in Madison Heights see about $18,000 in savings on energy bills over 20 years.

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

Solar savings over time in Madison Heights

Year Return on Investment
1 years $-13,397
3 years $-10,392
5 years $-7,387
7 years $-4,382
9 years $-1,377
11 years $1,628
13 years $4,633
15 years $7,638
17 years $10,643
19 years $13,648
21 years $16,653
23 years $19,658
25 years $22,663

Top Solar Installers in Madison Heights

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Taking advantage of a solar panel installer can make swapping over to solar power much easier. The expertise that solar installers offer can be valuable as well, particularly if you don't quite know what kind of solar equipment would be right for your home.

If you'd like to switch to solar energy but still aren't certain which solar company to go with, here are our recommendations for providers 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 Solar Financing

Blue Raven Solar

★★★★★
4.5

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

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

See all of the solar companies in Madison Heights

Factors that Affect Solar Panel Costs in Madison Heights

For many Madison Heights homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Madison Heights, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.

Solar Equipment Size

One of the most significant 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 energy your household consumes, the larger your system will likely need to be. You can expect to spend around $2,750 per kilowatt in Madison Heights. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Madison Heights, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. 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 Madison Heights to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in paying more over time due to interest. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.

Solar Panel Installation Company

A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Madison Heights is the company you choose to install your solar system. As with choosing a company to install new cabinets, for example, you'll have no shortage of solar installers that offer a range of services for different budgets. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $2.86 $12,012 $17,118 10.3 years
8 kW $2.81 $15,708 $23,132 10.1 years
10 kW $2.75 $19,250 $29,300 9.9 years
12 kW $2.69 $22,638 $35,622 9.7 years
14 kW $2.64 $25,872 $42,098 9.5 years
16 kW $2.58 $28,952 $48,728 9.3 years
18 kW $2.53 $31,878 $55,512 9.1 years
20 kW $2.48 $34,650 $62,450 8.9 years

Solar Incentives in Madison Heights

Name Income Tax Deduction for Energy-Efficient Products
More Info Click here

Name Local Option- Renewable Energy Machinery and Tools Property Tax Exemption
Website Visit here
More Info Click here

Name Local Option - Residential Property Tax Exemption for Solar
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 a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Contract: Review the contract terms carefully to make sure you understand the overall cost, completion timeline incentives and warranties.
  • Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
  • Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
  • Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the completion timeline.

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 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

EcoWatch's Madison Heights, VA Solar Cost FAQs

How much does it cost to install solar panels in Madison Heights?

The average cost of solar panels in Madison Heights is about $13,750 for a 5-kW system and $27,500 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.

Should I lease or buy solar panels in Madison Heights?

Leasing solar panels can be an appealing choice, as it usually 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 get the most savings.

How will solar panels impact my property value?

Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."

How long do solar panels last in Madison Heights?

Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use them at a lower efficiency.

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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