Solar Panel Cost Guide in Anthony, NM (2023 Update)
- Anthony Solar Installation Cost: $10,104
- 25-Year Savings: $28,761
- Payback Period: 6.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Anthony
We break down average solar pricing in Anthony.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Anthony, the average cost of a solar system is 2.68 per watt. Since a 5.4-kW system is needed to cover the energy needs of a typical home in Anthony, the average price of going solar will be about $10,112 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average Anthony homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. But, once you've paid the initial cost of installation, the ROI for most homeowners is usually rewarding, with a net average savings of about $27,000 over 20 years on electricity bills.
Click the button below to get connected to a vetted solar panel company in Anthony for a custom quote.
Solar savings over time in Anthony
| Year | Return on Investment |
|---|---|
| 1 years | $-9,974 |
| 3 years | $-9,715 |
| 5 years | $-9,456 |
| 7 years | $-9,197 |
| 9 years | $-8,938 |
| 11 years | $-8,678 |
| 13 years | $-8,419 |
| 15 years | $-8,160 |
| 17 years | $-7,901 |
| 19 years | $-7,642 |
| 21 years | $-7,383 |
| 23 years | $-7,124 |
| 25 years | $-6,865 |
Top Solar Installers in Anthony
Although it's possible to install solar panels on your own, it involves extra labor and handiness. That's one of the reasons the majority of homeowners choose to hire a solar panel installer. Plus, if you aren't sure what brand of solar panels and equipment you need, a solar company can help you find the right equipment for you 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 Anthony
Factors that Affect Solar Panel Costs in Anthony
Even though the average cost of a solar system in Anthony is $10,112, your actual cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
One of the most significant 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 $2,680 per kilowatt in Anthony. The brand of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Anthony, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, 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 company you hire to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Anthony, and each can charge different amounts for labor and equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $31,591 | 6.8 years |
| 8 kW | $2.73 | $15,308 | $42,422 | 6.6 years |
| 10 kW | $2.68 | $18,760 | $53,403 | 6.5 years |
| 12 kW | $2.63 | $22,062 | $64,533 | 6.4 years |
| 14 kW | $2.57 | $25,213 | $75,814 | 6.2 years |
| 16 kW | $2.52 | $28,215 | $87,245 | 6.1 years |
| 18 kW | $2.47 | $31,067 | $98,826 | 6.0 years |
| 20 kW | $2.41 | $33,768 | $110,557 | 5.8 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 choosing a company can be a challenge, we have some tips to help you, such as:
- Installation Process: When making the switch to solar power, it's crucial to maintain an open line of communication with your solar panel company. Confirm that you understand how the installation process will go and the project timeline.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you want a specific brand, make sure the solar company you're considering has it.
EcoWatch's Anthony, NM Solar Cost FAQs
What is the average cost of installing solar panels in Anthony?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $13,400 for a 5-kW system and $26,800 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Anthony is currently $106,100, so you could be looking at a value of about $4,350 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Anthony is a rewarding investment.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.