Solar Panel Cost Guide in Albuquerque, NM (2024 Update)
- Albuquerque Solar Installation Cost: $15,361
- 25-Year Savings: $27,135
- Payback Period: 10.2 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Albuquerque
Find out how much it might cost to go solar in Albuquerque.
In Albuquerque, solar panels cost about 4 per watt on average.To account for the typical energy needs of the average home in Albuquerque, most homeowners require a 5.6-kilowatt system. Using the per-watt figure above, a solar installation costs about $15,361, or $21,966 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of making the switch to solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy usage and what company you go with.Many homeowners find going solar is a fruitful investment. The average homeowner in Albuquerque can save about $26,000 on their energy bills over 20 years.
Click the button below to get connected to a vetted solar company in your area for a customized quote.
Solar savings over time in Albuquerque
Year | Return on Investment |
---|---|
1 years | $-14,268 |
3 years | $-12,082 |
5 years | $-9,896 |
7 years | $-7,710 |
9 years | $-5,524 |
11 years | $-3,338 |
13 years | $-1,152 |
15 years | $1,034 |
17 years | $3,220 |
19 years | $5,406 |
21 years | $7,592 |
23 years | $9,778 |
25 years | $11,964 |
Top Solar Installers in Albuquerque
Many homeowners decide to use a solar panel installer since installing solar panels on your own can be challenging. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
There are various 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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Albuquerque
Factors that Affect Solar Panel Costs in Albuquerque
For many Albuquerque homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Albuquerque, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Albuquerque, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can figure out by looking at past energy bills. Your total cost can increase by about $3,930 for each additional kilowatt you need.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get 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 over time on your energy bills. Additionally, add-on products, like solar batteries, can bring your total well above the Albuquerque average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are available from most installers in Albuquerque, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the massive popularity of renewable energy solutions in Albuquerque, you’ll have plenty of options to choose from, but each comes at varying price points for labor and equipment.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and go with the company that offers the products, warranties and services you’re looking for and also fit into your budget.
Solar Panel Cost Data by System Size
System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
---|---|---|---|---|
6 kW | $4.09 | $17,166 | $23,248 | 10.6 years |
8 kW | $4.01 | $22,448 | $31,438 | 10.4 years |
10 kW | $3.93 | $27,510 | $39,847 | 10.2 years |
12 kW | $3.85 | $32,352 | $48,477 | 10.0 years |
14 kW | $3.77 | $36,973 | $57,327 | 9.8 years |
16 kW | $3.69 | $41,375 | $66,397 | 9.6 years |
18 kW | $3.62 | $45,557 | $75,686 | 9.4 years |
20 kW | $3.54 | $49,518 | $85,196 | 9.2 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: Before you sign a contract with a solar installer, be sure to look it over carefully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Warranty: If you’re worried about the durability of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Albuquerque, NM Solar Cost FAQs
What is the average cost of installing solar panels in Albuquerque?
The average cost of solar panels in Albuquerque is about $19,650 for a 5-kW system and $39,300 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to think about when buying solar panels?
The initial cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is it worth going solar in Albuquerque?
Solar panels can be a fruitful investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires 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 house 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.