Solar Panel Cost Guide in Madeira, OH (2024 Update)
- Madeira Solar Installation Cost: $17,636
- 25-Year Savings: $10,949
- Payback Period: 18.2 Years
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Average Cost of Solar Panels in Madeira
Find out what the average cost of a solar system is in Madeira.
In Madeira, solar panels cost about 3 per watt on average.The average solar panel system size in Madeira is around 7.4 kilowatts, meaning a cost of about $17,636 for a solar installation, or $25,219 before the 0 federal solar tax credit is applied.
These figures are only averages, and the cost of going solar for you may vary based on factors unique to your home and what company you go with.With average savings of about $12,000 on energy bills over 20 years, many homeowners in Madeira find investing in solar can be quite rewarding.
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 Madeira
| Year | Return on Investment |
|---|---|
| 1 years | $-16,471 |
| 3 years | $-14,141 |
| 5 years | $-11,811 |
| 7 years | $-9,481 |
| 9 years | $-7,151 |
| 11 years | $-4,821 |
| 13 years | $-2,491 |
| 15 years | $-161 |
| 17 years | $2,169 |
| 19 years | $4,499 |
| 21 years | $6,828 |
| 23 years | $9,158 |
| 25 years | $11,488 |
Top Solar Installers in Madeira
Installing solar panels on your own can be a stressful undertaking, which is why using a solar installation company is a good option for many homeowners. Some solar companies, especially local ones, can help you better understand incentives in Madeira, therefore optimizing your ROI.
There are a number of licensed solar professionals that can help you install your solar system. 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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Madeira
Factors that Affect Solar Panel Costs in Madeira
The cost of installing a solar system in Madeira can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most significant 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 energy your household uses, the larger your system will likely need to be. You can expect to spend about $3,410 per kilowatt in Madeira.The brand and kind of equipment you get 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 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. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a popular route because they reduce your upfront costs and let you 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 choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Madeira, you’ll have a great number of options to choose from, but each comes at various price points for labor and equipment.The company’s size sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.55 | $14,895 | $4,748 | 19.0 years |
| 8 kW | $3.48 | $19,478 | $6,713 | 18.6 years |
| 10 kW | $3.41 | $23,870 | $8,868 | 18.2 years |
| 12 kW | $3.34 | $28,071 | $11,215 | 17.9 years |
| 14 kW | $3.27 | $32,081 | $13,752 | 17.5 years |
| 16 kW | $3.21 | $35,900 | $16,481 | 17.1 years |
| 18 kW | $3.14 | $39,529 | $19,400 | 16.8 years |
| 20 kW | $3.07 | $42,966 | $22,511 | 16.4 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. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Warranty: If you care about the durability of your solar system, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two 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: It’s important to read your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Madeira, OH Solar Cost FAQs
What is the average cost of installing solar panels in Madeira?
The average cost of solar panels in Madeira is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Madeira?
Solar panels aren’t free in Madeira, 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 power bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Madeira, that will require at least a 10-kW system. Not all homes will have roofs that 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 many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.