Solar Panel Cost Guide in Madison, CT (2024 Update)

  • Madison Solar Installation Cost: $11,885
  • 25-Year Savings: $34,215
  • Payback Period: 11.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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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 Madison

Find out what the average cost of a solar system is in Madison.

While the national average of solar panels is $2.66 per watt, solar panels in Madison generally cost around 4.Using this figure, a typical 4.5-kW system would cost about $11,885 before the 0 federal solar tax credit is applied.

The true cost of your system can go above or below the average in Madison based on several factors, such as the model of solar panels you choose and the solar contractor you hire.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically rewarding, with a net average savings of about $23,000 over 20 years on energy bills.

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

Solar savings over time in Madison

Year Return on Investment
1 years $-10,041
3 years $-6,353
5 years $-2,665
7 years $1,023
9 years $4,711
11 years $8,399
13 years $12,087
15 years $15,775
17 years $19,463
19 years $23,151
21 years $26,839
23 years $30,527
25 years $34,215

Top Solar Installers in Madison

Many homeowners opt for a solar panel installer since trying to put up solar panels by yourself can be time-consuming. Companies can also offer access to a large variety of the best solar panels and help you decide which one will be right for you.

You can work with a local solar installer to get a free estimate on how much solar panels 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 Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Madison

Factors that Affect Solar Panel Costs in Madison

There are many criteria that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,750.The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 will be looking at a higher equipment cost, but this can typically lead to more 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

Most solar installers in Madison provide solar loans, which reduce the initial cost of installing solar panels.Though solar loans make going solar more accessible for Madison homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

The solar company you opt for to handle your switch to clean energy can play a part in your total costs. There are about 3 solar installation companies in Madison, and each can charge varying amounts for labor and equipment.Additionally, some companies in Madison are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $3.90 $16,380 $19,427 11.4 years
8 kW $3.83 $21,420 $26,323 11.2 years
10 kW $3.75 $26,250 $33,429 11.0 years
12 kW $3.67 $30,870 $40,745 10.8 years
14 kW $3.60 $35,280 $48,270 10.6 years
16 kW $3.52 $39,480 $56,006 10.3 years
18 kW $3.45 $43,470 $63,952 10.1 years
20 kW $3.38 $47,250 $72,108 9.9 years

How to Save on Solar Panels

The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:

  • Solar Panel Brands: Different companies carry various brands and models of panels. If you want a specific brand, make sure the solar company you’re considering has it.
  • Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
  • Contract: Though reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
  • Warranty: If you’re worried about the longevity of your solar system, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.

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 Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Madison, CT Solar Cost FAQs

What is the average cost of installing solar panels in Madison?

The average cost of solar panels in Madison is about $18,750 for a 5-kW system and $37,500 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.

Is cost the most important consideration when buying solar panels?

Cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.

How will having solar panels impact my property value?

Solar panels can increase the value of your home remarkably 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% after installing a solar system."

How often do you have to replace solar panels?

On average, the lifespan of solar panels is 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 larger 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.

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