Calculate how much it will cost to install solar panels for your home in Madison
Our estimates used by
Solar power in Madison, Wisconsin
Madison Electric and Gas offers its Madison customers a net metering program.
Madison residents can take advantage of the MadiSUN Focus on Energy rebate. This incentive provides a rebate equal to 12% of the installed cost of a solar system, up to $2,000.
Combine this with the federal solar tax credit and almost half of the cost of your system is covered! And that doesn’t take into account how much you’ll save through net metering over the 25-year life of the solar panels.
Net Metering Broken Down
Madison Gas and Electric will pay its solar customers for excess electricity their solar system generates at the full retail rate of electricity. The utility measures electricity usage every 15 minutes and if energy production exceeds energy consumption, the customer is credited on their bill.
The average cost of installing residential solar panels in Madison,
Wisconsin in 2024 is
$2.58 per watt. The average system size
in the US is 6 kilowatts, which means the average price of a solar system
in Madison, WI
is $12,900.
(after claiming 26% tax credit and other rebates)
The 26% federal solar tax credit explained
If you have a federal income tax liability, 26% of the cost of your solar system can be claimed as a deduction to your taxes. This incentive is claimed when you do your taxes. In order to receive the tax credit quicker it's best to do your taxes as soon as possible after installation.
What if my tax liability is less than 26% of my systems costThere is the option to claim this incentive over several years if your tax liability is less than 26% of the system cost.
How much will solar panels on my home save me?
The answer to this question depends on your electricity usage. Generally speaking the greater your power usage the greater the potential savings from installing solar.
The average monthly usage in Wisconsin is only 564kWh per month however, you are most likely using a lot more than this since this average includes condos and small apartments.
The Madison solar panel savings calculator below will convert your monthly power spend into power usage (in kWh's) and then work out exactly how many solar panels you need to offset your usage, how much they will cost based on the prices of local solar companies and the amount you will save. Our Wisconsin solar savings calculator can do this because it contains a database of the electric rates charged by Adams-Columbia Electric Coop, Madison Gas & Electric Co, Village of Mt. Horeb, Rock Energy Cooperative, City of Stoughton, Sun Prairie Utilities, Village of Black Earth, Village of Mazomanie, Village of Waunakee, Wisconsin Electric Power Co (We Energies), Wisconsin Power & Light Co (Alliant), Wisconsin Public Power Inc
How much can solar panels save you in Madison
What does the cost of a real solar system look like?
Facts about installing a 4.62kW solar system in Madison, WI
This system would offset 100% of your energy usage if your typical monthly bill is $91, however your situation may vary so try our Madison solar calculator to get a result tailored to you.
$8,511
Net cost of system
6 Years 9 Months
Average payback time
5,687 kWh
Annual power production
6¢/kWh
Levelized cost of solar energy
34¢/kWh
If you don't get solar
Cash flow graph based on cash purchase of this 4.62kW system
Life-time savings on this system over the next 25 years
$36,294
(Prices shown after repayments of capital)
4
Solar companies in Madison, WI that provide pricing through the Solar-Estimate marketplace.
Average total cost of solar panel installation in Madison
| System Size |
Cash purchase After 30% solar tax credit |
Financed purchase After 30% solar tax credit |
|---|---|---|
| 3kw | $6,132 | $6,623 |
| 4kw | $7,868 | $8,497 |
| 5kw | $9,450 | $10,206 |
| 6kw | $10,836 | $11,703 |
| 7kw | $12,103 | $13,071 |
| 8kw | $13,216 | $14,273 |
| 9kw | $14,175 | $15,309 |
| 10kw | $14,980 | $16,178 |
Find out what system size you need for your home
Going solar in Wisconsin
Check out all of the ways energy providers of Wisconsin can help you be more energy efficient and save money.
The following programs are available:
| Incentive Name | Eligibility | Type |
|---|---|---|
| Residential Clean Energy Tax Credit | Federal | Personal Tax Credit |
| Focus on Energy Solar Electric Rebate | State | Rebate Program |
| Net Metering | State | Net Metering |
| Renewable Energy Systems Property Tax Exemption | State | Property Tax Incentive |
| Renewable Energy Sales Tax Exemption | State | Sales Tax Incentive |
| Madison Electric and Gas - Net Metering | Utility | Net Metering |
Find your local rebates and incentives
Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.
