Solar Panel Cost Guide in Corrales, NM (2025 Update)
- Corrales Solar Installation Cost: $15,677
- 25-Year Savings: $25,472
- Payback Period: 10.8 Years
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Average Cost of Solar Panels in Corrales
Find out how much it might cost to make the switch to solar in Corrales.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Corrales, the typical cost of solar panels is 4 per watt.The average Corrales homeowner needs a 5.7-kilowatt system, which would cost about $15,677 with the federal tax credit, or $22,418 before the 0 tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy consumption, the type of solar panels you want to get, your solar contractor and more.For many homeowners, the upfront investment in solar panels is worth paying. On average Corrales homeowners see about $24,000 in savings on utility bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Corrales
| Year | Return on Investment |
|---|---|
| 1 years | $-14,589 |
| 3 years | $-12,412 |
| 5 years | $-10,234 |
| 7 years | $-8,057 |
| 9 years | $-5,880 |
| 11 years | $-3,703 |
| 13 years | $-1,525 |
| 15 years | $652 |
| 17 years | $2,829 |
| 19 years | $5,006 |
| 21 years | $7,184 |
| 23 years | $9,361 |
| 25 years | $11,538 |
Top Solar Installers in Corrales
When going solar, many homeowners opt to hire a solar company since putting up solar panels yourself can be a time-consuming project. Another good thing about choosing a top solar installer is that it'll usually provide warranties and free repairs, which help protect your solar investment.
If you're looking for a solar installer in Corrales, we've compiled a list of our top suggestions here:
See all of the solar companies in Corrales
Factors that Affect Solar Panel Costs in Corrales
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that will push your cost above or below the average in Corrales: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar system in Corrales, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can gauge by looking at past electricity bills. Your overall cost can increase by about $3,930 for each additional kilowatt you need.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a 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 a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Corrales homeowners opt to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also adds to your overall costs, so it’s important to consider that as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installation company you pick will influence your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Corrales 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 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 | $4.09 | $17,166 | $20,908 | 11.3 years |
| 8 kW | $4.01 | $22,448 | $28,317 | 11.1 years |
| 10 kW | $3.93 | $27,510 | $35,946 | 10.8 years |
| 12 kW | $3.85 | $32,352 | $43,796 | 10.6 years |
| 14 kW | $3.77 | $36,973 | $51,866 | 10.4 years |
| 16 kW | $3.69 | $41,375 | $60,155 | 10.2 years |
| 18 kW | $3.62 | $45,557 | $68,665 | 10.0 years |
| 20 kW | $3.54 | $49,518 | $77,395 | 9.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: Even though reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of offerings before deciding.
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
EcoWatch's Corrales, NM Solar Cost FAQs
How much does it cost to install solar panels in Corrales?
The average cost of solar panels in Corrales 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 things such as the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Corrales?
The majority of states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.