Solar Panel Cost Guide in Mexico, MO (Mar 2023)
- Mexico Solar Installation Cost: $13,217
- 25-Year Savings: $22,860
- Payback Period: 9.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Mexico
We go over 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. The average Mexico homeowner needs a 7.3-kilowatt system, which would cost about $13,217 with the federal tax credit, or $18,900 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of installing solar panels can vary depending on several factors, such as how many panels you need, your energy consumption and what installation company you go with. For most homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Mexico see about $19,000 in savings on utility bills over 20 years.
Click the button below to get connected to a top solar company in Mexico for a customized estimate.
Solar savings over time in Mexico
| Year | Return on Investment |
|---|---|
| 1 years | $-11,774 |
| 3 years | $-8,888 |
| 5 years | $-6,001 |
| 7 years | $-3,115 |
| 9 years | $-229 |
| 11 years | $2,657 |
| 13 years | $5,543 |
| 15 years | $8,429 |
| 17 years | $11,315 |
| 19 years | $14,201 |
| 21 years | $17,087 |
| 23 years | $19,974 |
| 25 years | $22,860 |
Top Solar Installers in Mexico
Many homeowners decide to use a solar panel installer since trying to put up solar panels on your own can be hard. Also, companies with a good reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Mexico
Factors that Affect Solar Panel Costs in Mexico
The cost of installing a solar system in Mexico can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend around $2,590 per kilowatt in Mexico. The solar equipment you choose can bring your price up or down 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. However, higher efficiency could save you more in the long run on your power bills. Additionally, add-on products, like solar batteries, can bring your total well above the Mexico average.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid option because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Mexico is the company you hire to install your solar panel system. As with choosing a company to build a deck or pool, for example, there are plenty of solar installers that provide a range of services for different budgets. Additionally, some companies in Mexico know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $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
The solar panel company you choose will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, such as:
- Solar Panel Brands: Different companies carry different brands and kinds of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
- 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 expectations you should have about the installation process.
- Installation Process: When making the switch to solar energy, it's necessary to maintain an open line of communication with your solar installer. See to it that you understand how the installation process works and the project completion timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Mexico, MO Solar Cost FAQs
What is the average cost of installing solar panels in Mexico?
This is a tough question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $12,950 for a 5-kW system and $25,900 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Mexico?
You can't get solar panels for free in Mexico. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Is switching to solar power worth it?
Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Mexico?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.