Solar Panel Cost Guide in Mexico, MO (2023 Update)
- Mexico Solar Installation Cost: $13,208
- 25-Year Savings: $22,869
- Payback Period: 9.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Mexico
We break down average solar pricing in Mexico.
The national average cost of solar panels is $2.66 per watt, but in Mexico it's 2.59 per watt. To cover the typical energy needs of the average home in Mexico, most homeowners require a 7.3-kilowatt system. Using the per-watt figure above, a solar installation costs about $13,217, or $18,900 before the federal solar tax credit of 30% is applied.
These figures are just averages, and how much solar costs for you may look different based on the amount of energy your home requires and what company you choose to go with. With typical savings of about $19,000 on electricity bills over 20 years, many homeowners in Mexico find going solar can be quite rewarding.
Click the button below to get connected to a highly rated solar panel company in Mexico for a personalized quote.
Solar savings over time in Mexico
| Year | Return on Investment |
|---|---|
| 1 years | $-11,917 |
| 3 years | $-9,336 |
| 5 years | $-6,755 |
| 7 years | $-4,174 |
| 9 years | $-1,593 |
| 11 years | $988 |
| 13 years | $3,569 |
| 15 years | $6,151 |
| 17 years | $8,732 |
| 19 years | $11,313 |
| 21 years | $13,894 |
| 23 years | $16,475 |
| 25 years | $19,056 |
Top Solar Installers in Mexico
Although you can install solar panels by yourself, it involves extra energy and handiness. That's why most people choose to hire a solar panel installer. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and component replacements.
If you're looking for a solar installer in Mexico, we've organized a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Mexico
Factors that Affect Solar Panel Costs in Mexico
While the average cost of a solar system in Mexico is $13,217, your final cost may differ. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the price of a solar system in Mexico, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can determine by looking at past power bills. Your overall cost can increase by around $2,590 for each additional kilowatt you need. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your power bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Mexico average.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are an affordable option because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar installer you go with to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar installation companies in Mexico, and each can charge varying amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies compete with 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 vehicle 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 | $2.69 | $11,313 | $18,399 | 9.5 years |
| 8 kW | $2.64 | $14,794 | $24,822 | 9.3 years |
| 10 kW | $2.59 | $18,130 | $31,391 | 9.2 years |
| 12 kW | $2.54 | $21,321 | $38,104 | 9.0 years |
| 14 kW | $2.49 | $24,367 | $44,962 | 8.8 years |
| 16 kW | $2.43 | $27,268 | $51,965 | 8.6 years |
| 18 kW | $2.38 | $30,023 | $59,114 | 8.4 years |
| 20 kW | $2.33 | $32,634 | $66,407 | 8.2 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: The kind of solar panel you need to install plays a part in which company you should choose, since different companies provide different panels.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should secure and what the project timeline is.
- Contract: Look through the contract terms carefully to make sure you understand how much it will cost, completion timeline incentives and warranties.
- Reputation: Your solar installer should have a good 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.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Mexico, MO Solar Cost FAQs
What is the average cost of installing solar panels in Mexico?
The average cost of solar panels in Mexico is about $12,950 for a 5-kW system and $25,900 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is going solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
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 needs 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 household 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.