Solar Panel Cost Guide in Bosque Farms, NM (2024 Update)
- Bosque Farms Solar Installation Cost: $15,284
- 25-Year Savings: $30,235
- Payback Period: 9.4 Years
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Average Cost of Solar Panels in Bosque Farms
Let’s take a look at the average cost of solar panels in Bosque Farms.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Bosque Farms, the average cost of a solar system is 4 per watt.The average solar panel system size in Bosque Farms is around 5.6 kilowatts, meaning a cost of about $15,284 for a solar installation, or $21,856 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy needs, the type of equipment you want to get, your solar contractor and more.With typical savings of about $28,000 on utility bills over 20 years, many homeowners in Bosque Farms find going solar has a decent ROI.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Bosque Farms
| Year | Return on Investment |
|---|---|
| 1 years | $-14,195 |
| 3 years | $-12,018 |
| 5 years | $-9,841 |
| 7 years | $-7,664 |
| 9 years | $-5,486 |
| 11 years | $-3,309 |
| 13 years | $-1,132 |
| 15 years | $1,045 |
| 17 years | $3,223 |
| 19 years | $5,400 |
| 21 years | $7,577 |
| 23 years | $9,754 |
| 25 years | $11,932 |
Top Solar Installers in Bosque Farms
Trying to put up solar panels yourself can be a dangerous project, which is why hiring a solar installation company is a good option for many homeowners. Solar companies offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some in Bosque Farms:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Bosque Farms
Factors that Affect Solar Panel Costs in Bosque Farms
For many Bosque Farms homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Bosque Farms, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar 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 about $3,930 per kilowatt in Bosque Farms.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are offered by most installers in Bosque Farms, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Bosque Farms is the company you get to install your PV system. Similar to choosing a company to build a deck or pool, for example, there are plenty of solar installers that offer a range of services for different budgets.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and decide on the company that provides the products, warranties and services you’re looking for and also is within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.09 | $17,166 | $26,742 | 9.8 years |
| 8 kW | $4.01 | $22,448 | $36,097 | 9.6 years |
| 10 kW | $3.93 | $27,510 | $45,671 | 9.4 years |
| 12 kW | $3.85 | $32,352 | $55,465 | 9.2 years |
| 14 kW | $3.77 | $36,973 | $65,480 | 9.0 years |
| 16 kW | $3.69 | $41,375 | $75,714 | 8.8 years |
| 18 kW | $3.62 | $45,557 | $86,169 | 8.6 years |
| 20 kW | $3.54 | $49,518 | $96,844 | 8.5 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:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before deciding.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Contract: Look through the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline rebates and warranties.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Bosque Farms, NM Solar Cost FAQs
How much does it cost to install solar panels in Bosque Farms?
The average cost of solar panels in Bosque Farms is about $19,650 for a 5-kW system and $39,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors 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 Bosque Farms?
Leasing solar panels can be an attractive 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
How much can I save on electricity bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Bosque Farms, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using them at a lower efficiency.
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.