Solar Panel Cost Guide in Chaparral, NM (2025 Update)
- Chaparral Solar Installation Cost: $15,001
- 25-Year Savings: $33,063
- Payback Period: 8.7 Years
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Average Cost of Solar Panels in Chaparral
Find out what the average cost of solar panel installation is in Chaparral.
In Chaparral, solar panels cost about 4 per watt on average.To cover the typical energy usage of the average home in Chaparral, most homeowners require a 5.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $15,001, or $21,451 before the federal solar tax credit of 0 is applied.
These figures are just estimates, and the cost of going solar for you will vary based on factors unique to your home and what company you want to go with.Many homeowners find installing a solar panel system is a fruitful investment. The average homeowner in Chaparral can save around $30,000 on their power bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Chaparral
Year | Return on Investment |
---|---|
1 years | $-14,174 |
3 years | $-12,521 |
5 years | $-10,868 |
7 years | $-9,215 |
9 years | $-7,562 |
11 years | $-5,909 |
13 years | $-4,256 |
15 years | $-2,603 |
17 years | $-950 |
19 years | $703 |
21 years | $2,356 |
23 years | $4,009 |
25 years | $5,662 |
Top Solar Installers in Chaparral
Although you can install solar panels on your own, it involves extra energy and know-how. For that reason, most homeowners choose to go with a solar panel installer. Solar warranties and repairs are ordinarily included in the cost of installation when you opt for a solar contractor too, which can save you more money after your upfront investment.
If you're looking for a solar company in Chaparral, the EcoWatch team has compiled a list of our top suggestions here:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Chaparral
Factors that Affect Solar Panel Costs in Chaparral
Although the average cost of a solar system in Chaparral is $15,001, your actual cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
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 around $3,930 per kilowatt in Chaparral.The kind of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment consists of more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Chaparral to be too steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar company you hire to handle your switch to green energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Chaparral, and each can charge different amounts for labor and equipment.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 come with an above-average cost. It’s best to do some research and go with the company that has the products, warranties and services you want and also fits 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 | $30,471 | 9.0 years |
8 kW | $4.01 | $22,448 | $41,068 | 8.8 years |
10 kW | $3.93 | $27,510 | $51,885 | 8.7 years |
12 kW | $3.85 | $32,352 | $62,923 | 8.5 years |
14 kW | $3.77 | $36,973 | $74,180 | 8.3 years |
16 kW | $3.69 | $41,375 | $85,657 | 8.1 years |
18 kW | $3.62 | $45,557 | $97,355 | 8.0 years |
20 kW | $3.54 | $49,518 | $109,273 | 7.8 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Chaparral, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Before you sign a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- 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 details from your solar installer about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Chaparral, NM Solar Cost FAQs
What is the average cost of installing solar panels in Chaparral?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $19,650 for a 5-kW system and $39,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. 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 Chaparral?
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 option if you want to maximize your savings.
Is it worth going solar in Chaparral?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
How long do solar panels last in Chaparral?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had 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.