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

  • Madison Solar Installation Cost: $17,337
  • 25-Year Savings: $23,023
  • Payback Period: 12.4 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

We break down average solar pricing in Madison.

The average cost of a solar system in Madison is 4 per watt.To account for the typical energy needs of the average home in Madison, most homeowners require a 6.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $17,337, or $24,792 before the federal solar tax credit of 0 is applied.

Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy use, the type of solar system you want, your solar contractor and more.For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Madison see about $22,000 in savings on energy bills over 20 years.

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

Solar savings over time in Madison

Year Return on Investment
1 years $-16,083
3 years $-13,576
5 years $-11,068
7 years $-8,561
9 years $-6,053
11 years $-3,546
13 years $-1,039
15 years $1,469
17 years $3,976
19 years $6,484
21 years $8,991
23 years $11,498
25 years $14,006

Top Solar Installers in Madison

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Hiring a solar company can make swapping over to solar power much easier. Also, if you’d like to maximize your investment in solar energy, using a solar installer can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives and net metering programs.

You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some nearby:

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

Solar Veteran

Michigan Solar Solutions

★★★★★
4.5

  • Great warranty coverage
  • Outstanding customer service
  • Offers products from leading manufacturers
  • Slightly limited service offerings
  • No leases or PPAs

Outstanding Local Installer

Strawberry Solar

★★★★★
4.5

  • Outstanding customer service
  • Representatives are experts on local policies
  • Educational, no-pressure sales approach
  • Limited warranty coverage
  • No leases or PPAs
  • Limited brands of solar equipment available

See all of the solar companies in Madison

Factors that Affect Solar Panel Costs in Madison

Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Madison: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.

Solar Equipment

When it comes to estimating the cost of solar panels in Madison, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can determine by looking at past electricity bills. Your overall cost can increase by around $4,060 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Madison, where sunlight isn’t as 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

If paying for solar panels out of pocket is out of reach, solar loans are a popular option because they lower your upfront costs and let you pay for your system over five to seven years on average.However, the interest on solar loans also increases your overall costs, so it’s vital to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.

Solar Panel Installation Company

The solar installer you choose to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Madison, and each can charge varying amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $4.22 $17,734 $16,713 12.9 years
8 kW $4.14 $23,191 $22,739 12.6 years
10 kW $4.06 $28,420 $28,992 12.4 years
12 kW $3.98 $33,422 $35,472 12.1 years
14 kW $3.90 $38,196 $42,180 11.9 years
16 kW $3.82 $42,744 $49,115 11.6 years
18 kW $3.74 $47,064 $56,277 11.4 years
20 kW $3.65 $51,156 $63,667 11.1 years

How to Save on Solar Panels

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

  • Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
  • 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 likely has a solid reputation and is qualified to get the job done well. Another way you can check your installer’s reputation is by reading reviews.
  • Contract: Even though reading through a contract can take a lot of time, 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.
  • Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.

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

Solar Veteran

Michigan Solar Solutions

★★★★★
4.5

  • Great warranty coverage
  • Outstanding customer service
  • Offers products from leading manufacturers
  • Slightly limited service offerings
  • No leases or PPAs

Outstanding Local Installer

Strawberry Solar

★★★★★
4.5

  • Outstanding customer service
  • Representatives are experts on local policies
  • Educational, no-pressure sales approach
  • Limited warranty coverage
  • No leases or PPAs
  • Limited brands of solar equipment available

EcoWatch's Madison, MI Solar Cost FAQs

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

The average cost of solar panels in Madison is about $20,300 for a 5-kW system and $40,600 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.

Are solar panels free in Madison?

Solar panels aren’t free in Madison, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.

How much can I save on power bills after switching to solar?

Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,148.23 per year.

What solar power system size is right for my home?

To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house 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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