Solar Panel Cost Guide in Albuquerque, NM (2023 Update)
- Albuquerque Solar Installation Cost: $10,468
- 25-Year Savings: $27,142
- Payback Period: 7.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Albuquerque
Here's how much it might cost to install solar panels in Albuquerque.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Albuquerque, the average cost of a solar system is 2.68 per watt. Since a 5.6-kW system is needed to cover the energy needs of a typical home in Albuquerque, the average price of going solar will be about $10,468 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of installing solar panels can vary depending on several factors, such as how many panels you need, your energy consumption and what solar installer you go with. For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Albuquerque see about $26,000 in savings on utility bills over 20 years.
Click the button below to get connected to a vetted solar installer in Albuquerque for a custom quote.
Solar savings over time in Albuquerque
| Year | Return on Investment |
|---|---|
| 1 years | $-8,964 |
| 3 years | $-5,955 |
| 5 years | $-2,946 |
| 7 years | $63 |
| 9 years | $3,072 |
| 11 years | $6,081 |
| 13 years | $9,089 |
| 15 years | $12,098 |
| 17 years | $15,107 |
| 19 years | $18,116 |
| 21 years | $21,125 |
| 23 years | $24,134 |
| 25 years | $27,142 |
Top Solar Installers in Albuquerque
Many homeowners decide to hire a solar installer since trying to install solar panels by yourself can be hard. The expertise that solar installers offer can be useful as well, especially if you don't quite know what brand of solar equipment you need.
If you'd like to go solar but still aren't sure which solar company to go with, here are our recommendations for providers nearby:
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Albuquerque
Factors that Affect Solar Panel Costs in Albuquerque
For many Albuquerque homeowners, the decision to adopt solar energy rests 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 several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Albuquerque, one of the most important 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 consumption, which you can figure out by looking at past power bills. Your total cost can increase by about $2,680 for each additional kilowatt you need. There are several different solar panel brands and the one you choose also changes the cost. In many cases, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Albuquerque offer solar loans, which reduce the initial cost of installing solar. It's wise to include 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 installation company you pick will impact your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and decide on the company that provides the products, warranties and services you want and also fits within 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 | $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
The solar panel company you go with will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, such as:
- Contract: Before you sign a contract with a solar installer, make sure you look it over completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
- Solar Panel Brands: The type of solar panel you'd like to install plays a role in which installer you should go with, since different companies have different panels.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most 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 Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Albuquerque?
A solar panel system isn't free in Albuquerque, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Do solar panels increase the value of your home?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in Albuquerque?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.