Solar Panel Cost Guide in Artesia, NM (2023 Update)
- Artesia Solar Installation Cost: $10,205
- 25-Year Savings: $27,005
- Payback Period: 6.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Artesia
Find out what the average cost of installing solar panels is in Artesia.
In Artesia, solar panels cost about 2.68 per watt on average. To cover the typical energy usage of the average home in Artesia, most homeowners require a 5.4-kilowatt system. Using the per-watt figure above, a solar installation costs around $10,205, or $14,593 before the federal solar tax credit of 30% is applied.
These figures are just estimates, and the cost of going solar for you may look different based on the amount of energy your home requires and what company you choose to go with. Even with the high upfront cost, the average Artesia homeowner can save around $26,000 on their electricity bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a pre-vetted solar company in Artesia that can help you get a more accurate cost estimate for your home.
Solar savings over time in Artesia
| Year | Return on Investment |
|---|---|
| 1 years | $-8,717 |
| 3 years | $-5,740 |
| 5 years | $-2,763 |
| 7 years | $214 |
| 9 years | $3,190 |
| 11 years | $6,167 |
| 13 years | $9,144 |
| 15 years | $12,121 |
| 17 years | $15,098 |
| 19 years | $18,075 |
| 21 years | $21,052 |
| 23 years | $24,028 |
| 25 years | $27,005 |
Top Solar Installers in Artesia
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Going with an installer can make converting to solar power much easier. Plus, if you aren't sure what brand of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.
If you're on the hunt for a solar company in Artesia, we've organized a list of our top suggestions here:
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 Artesia
Factors that Affect Solar Panel Costs in Artesia
While the average cost of a solar system in Artesia is $10,205, your final cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The kind of solar equipment you choose can increase or decrease your cost 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 power bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Artesia average.
Solar Financing Terms
Most solar installers in Artesia provide solar loans, which reduce the initial cost of installing solar. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installation company you pick will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Artesia know more about local solar incentives and can help you learn about 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 help you save 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 | $2.79 | $11,706 | $29,363 | 7.1 years |
| 8 kW | $2.73 | $15,308 | $39,451 | 7.0 years |
| 10 kW | $2.68 | $18,760 | $49,689 | 6.9 years |
| 12 kW | $2.63 | $22,062 | $60,077 | 6.7 years |
| 14 kW | $2.57 | $25,213 | $70,615 | 6.6 years |
| 16 kW | $2.52 | $28,215 | $81,303 | 6.4 years |
| 18 kW | $2.47 | $31,067 | $92,141 | 6.3 years |
| 20 kW | $2.41 | $33,768 | $103,130 | 6.2 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
- Warranty: If you're concerned about the endurance of your solar panels, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. While there are many options for which type 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 peruse their list of offerings before deciding.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Artesia, NM Solar Cost FAQs
How much does it cost to install solar panels in Artesia?
The average cost of solar panels in Artesia is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Artesia?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your home significantly 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% after installing solar panels."
How many solar panels do I need 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 typically produce about 250 to 400 watt-hours per hour, the average household 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.