Solar Panel Cost Guide in Aztec, NM (Nov 2022)

  • Aztec Solar Installation Cost: $10,843
  • 25-Year Savings: $23,942
  • Payback Period: 7.8 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Aztec

Find out what the average cost of solar panel installation is in Aztec.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Aztec, the typical cost of solar panels is $3 per watt. To account for the typical energy usage of the average home in Aztec, most homeowners require a 5.8-kilowatt system. Using the figure above, a solar installation costs about $10,843, or $8,024 after the federal solar tax credit of 30% is applied.

These figures are only averages, and your own solar costs may differ based on factors unique to your home and what company you want to go with. For most homeowners, the upfront investment in solar panels is worth paying. On average Aztec homeowners see about $23,000 in savings on utility bills over 20 years.

For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Aztec

Year Return on Investment
1 years $-9,452
3 years $-6,669
5 years $-3,886
7 years $-1,103
9 years $1,679
11 years $4,462
13 years $7,245
15 years $10,028
17 years $12,811
19 years $15,594
21 years $18,376
23 years $21,159
25 years $23,942

Top Solar Installers in Aztec

Although you can install solar panels yourself, it involves extra labor and knowledge. Because of that, most people choose to go with a solar panel installer. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and component replacements.

If you're on the hunt for a solar installer in Aztec, we've organized a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

See all of the solar companies in Aztec

Factors that Affect Solar Panel Costs in Aztec

There are many criteria that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.

Solar Equipment

When it comes to estimating the price of a solar panel system in Aztec, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can gauge by looking at past power bills. Your total cost can increase by about $2,680 for each additional kilowatt you need. The kind 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 Aztec average.

Solar Financing Terms

Most solar installers in Aztec provide solar loans, which reduce your upfront costs of installing solar panels. Though solar loans make switching to solar energy more accessible for Aztec homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

The solar installer you pick will affect your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. The company's size sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger 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 $24,405 8.1 years
8 kW $2.73 $15,308 $32,840 7.9 years
10 kW $2.68 $18,760 $41,425 7.8 years
12 kW $2.63 $22,062 $50,160 7.6 years
14 kW $2.57 $25,213 $59,045 7.5 years
16 kW $2.52 $28,215 $68,080 7.3 years
18 kW $2.47 $31,067 $77,266 7.2 years
20 kW $2.41 $33,768 $86,601 7.0 years

How to Save on Solar Panels

The solar panel company you opt for will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, such as:

  • Contract: Even though reading through a contract can be tedious, it's important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
  • Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
  • Warranty: Warranties that cover defective panels and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one mark of a quality company.
  • Solar Panel Brands: The model of solar panel you want to install plays a part in which company you should opt for, since different companies offer different panels.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Aztec, NM Solar Cost FAQs

How much does it cost to install solar panels in Aztec?

This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally 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 cost more if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

Should I lease or buy solar panels in Aztec?

Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The downside 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 way to go if you want to get the most savings.

Do solar panels increase your property value?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Aztec is currently $157,900, which means you can expect about a value of about $6,474 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Aztec is a worthwhile investment.

How often do you have to replace solar panels?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.

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