Solar Panel Cost Guide in Bernalillo, NM (2023 Update)
- Bernalillo Solar Installation Cost: $10,691
- 25-Year Savings: $28,884
- Payback Period: 6.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Bernalillo
Let's take a look at the average cost of solar in Bernalillo.
The national average cost of solar panels is $2.66 per watt, but in Bernalillo it's 2.68 per watt. Because a 5.7-kW system is needed to cover the energy needs of a typical home in Bernalillo, the average price of going solar will be about $10,693 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of installing solar panels can vary based on several factors, such as how many panels you need, your energy usage and what company you go with. For many homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $26,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Bernalillo that can help you get a more accurate cost estimate for your home.
Solar savings over time in Bernalillo
| Year | Return on Investment |
|---|---|
| 1 years | $-9,602 |
| 3 years | $-7,425 |
| 5 years | $-5,248 |
| 7 years | $-3,071 |
| 9 years | $-893 |
| 11 years | $1,284 |
| 13 years | $3,461 |
| 15 years | $5,638 |
| 17 years | $7,816 |
| 19 years | $9,993 |
| 21 years | $12,170 |
| 23 years | $14,347 |
| 25 years | $16,524 |
Top Solar Installers in Bernalillo
When going solar, many homeowners opt to go with a solar company since installing a solar system yourself can be a difficult project. The expertise that solar companies provide can be invaluable as well, particularly if you aren't sure what brand of solar equipment you need.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
See all of the solar companies in Bernalillo
Factors that Affect Solar Panel Costs in Bernalillo
The cost of installing a solar system in Bernalillo can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,680. 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 opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your power bills. In addition, add-on products, like solar batteries, can bring your total well above the Bernalillo average.
Solar Financing Terms
Many homeowners find the average cost of solar in Bernalillo to be too costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest. Even though solar loans make switching to solar energy more accessible for Bernalillo homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the massive popularity of sustainable energy solutions in Bernalillo, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Bernalillo are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, 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 | $29,960 | 7.0 years |
| 8 kW | $2.73 | $15,308 | $40,247 | 6.9 years |
| 10 kW | $2.68 | $18,760 | $50,683 | 6.8 years |
| 12 kW | $2.63 | $22,062 | $61,270 | 6.6 years |
| 14 kW | $2.57 | $25,213 | $72,007 | 6.5 years |
| 16 kW | $2.52 | $28,215 | $82,894 | 6.3 years |
| 18 kW | $2.47 | $31,067 | $93,932 | 6.2 years |
| 20 kW | $2.41 | $33,768 | $105,119 | 6.1 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Bernalillo, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Before signing a contract with a solar company, be sure to read it through fully 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.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
EcoWatch's Bernalillo, NM Solar Cost FAQs
What is the average cost of installing solar panels in Bernalillo?
The average cost of solar panels in Bernalillo 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 certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Bernalillo?
Solar panels aren't free in Bernalillo, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Do solar panels increase the value of your home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Bernalillo is currently $202,903, which means you can expect a value of about $8,319 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Bernalillo is a fruitful investment.
How many solar panels do I need to power my home?
To figure out how many solar panels 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 home 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.