Solar Panel Cost Guide in Belen, NM (2023 Update)
- Belen Solar Installation Cost: $10,431
- 25-Year Savings: $29,247
- Payback Period: 6.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Belen
Find out what the average cost of installing solar panels is in Belen.
In Belen, solar panels cost about 2.68 per watt on average. Since a 5.6-kW system is needed to cover the energy usage of a typical home in Belen, the average price of going solar will be about $10,431 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average energy use of Belen homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. But, after you've paid the upfront cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $27,000 over 20 years on energy bills.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Belen
| Year | Return on Investment |
|---|---|
| 1 years | $-8,843 |
| 3 years | $-5,669 |
| 5 years | $-2,495 |
| 7 years | $679 |
| 9 years | $3,853 |
| 11 years | $7,028 |
| 13 years | $10,202 |
| 15 years | $13,376 |
| 17 years | $16,550 |
| 19 years | $19,725 |
| 21 years | $22,899 |
| 23 years | $26,073 |
| 25 years | $29,247 |
Top Solar Installers in Belen
Putting up solar panels by yourself can be a difficult undertaking, which is why hiring a solar installer is a good option for many homeowners. Plus, if you aren't sure what type of solar panels and equipment you need, a solar expert can help you figure that out after a site survey and consultation.
If you'd like to go solar but still aren't certain which solar panel company to go with, here are our suggestions 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 Belen
Factors that Affect Solar Panel Costs in Belen
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that will push your cost above or below the average in Belen: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,680. The model of solar panels and equipment you get is another factor that will largely impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment consists of more than just the solar panels themselves. You'll also need to consider 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
Most solar installers in Belen provide solar loans, which reduce your upfront costs of installing solar panels. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you choose will impact your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Belen have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $31,144 | 6.8 years |
| 8 kW | $2.73 | $15,308 | $41,825 | 6.7 years |
| 10 kW | $2.68 | $18,760 | $52,657 | 6.6 years |
| 12 kW | $2.63 | $22,062 | $63,639 | 6.4 years |
| 14 kW | $2.57 | $25,213 | $74,770 | 6.3 years |
| 16 kW | $2.52 | $28,215 | $86,052 | 6.2 years |
| 18 kW | $2.47 | $31,067 | $97,484 | 6.0 years |
| 20 kW | $2.41 | $33,768 | $109,066 | 5.9 years |
How to Save on Solar Panels
The solar installer you choose will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, such as:
- Solar Panel Brands: The brand of solar panel you'd like plays a part in which company you should opt for, since different companies have different panels.
- Contract: Although reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely offer quality solar panel installation and expertise.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Belen, NM Solar Cost FAQs
What is the average cost of installing solar panels in Belen?
This is a hard question to answer exactly, because the cost depends on many 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 additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Belen?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Does Belen have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs 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 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.