Solar Panel Cost Guide in Albuquerque, NM (Jan 2023)
- Albuquerque Solar Installation Cost: $10,468
- 25-Year Savings: $27,142
- Payback Period: 7.0 Years
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Top Solar Installers in Albuquerque
Although it's possible to install solar panels by yourself, it requires extra energy and knowledge. For that reason, most homeowners choose to hire a solar panel installer. Plus, if you're not certain what type of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
See all of the solar companies in Albuquerque
Factors that Affect Solar Panel Costs in Albuquerque
The cost of installing a solar system in Albuquerque 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 installer you choose.
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Albuquerque, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are provided by most installers in Albuquerque, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. Even though solar loans make adopting solar energy more accessible for Albuquerque homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you opt for to handle your switch to clean energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Albuquerque, and each can charge varying amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra 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||$2.79||$11,706||$28,708||7.2 years|
|8 kW||$2.73||$15,308||$38,578||7.1 years|
|10 kW||$2.68||$18,760||$48,597||7.0 years|
|12 kW||$2.63||$22,062||$58,767||6.8 years|
|14 kW||$2.57||$25,213||$69,087||6.7 years|
|16 kW||$2.52||$28,215||$79,557||6.5 years|
|18 kW||$2.47||$31,067||$90,176||6.4 years|
|20 kW||$2.41||$33,768||$100,946||6.3 years|
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose greatly impacts your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before making your decision.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, project completion timeline incentives and warranties.
EcoWatch's Albuquerque, NM Solar Cost FAQs
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.