Solar Panel Cost Guide in Corrales, NM (Mar 2023)
- Corrales Solar Installation Cost: $10,693
- 25-Year Savings: $25,470
- Payback Period: 7.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Corrales
We break down average solar pricing in Corrales.
The average cost of solar panels in Corrales is 2.68 per watt. Because a 5.7-kW system is needed to cover the energy needs of a typical home in Corrales, the average price of going solar will be about $10,693 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average energy use of Corrales homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. With average savings of about $24,000 on electricity bills over 20 years, many homeowners in Corrales find going solar can be quite rewarding.
To get a free estimate from a pre-vetted solar installation company in Corrales, you can click the button below.
Solar savings over time in Corrales
| Year | Return on Investment |
|---|---|
| 1 years | $-9,247 |
| 3 years | $-6,354 |
| 5 years | $-3,461 |
| 7 years | $-568 |
| 9 years | $2,325 |
| 11 years | $5,218 |
| 13 years | $8,111 |
| 15 years | $11,004 |
| 17 years | $13,897 |
| 19 years | $16,790 |
| 21 years | $19,684 |
| 23 years | $22,577 |
| 25 years | $25,470 |
Top Solar Installers in Corrales
Although you can install solar panels yourself, it requires extra effort and handiness. Because of that, most people choose a solar panel installer. Plus, if you're not certain what kind of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
If you're searching for a solar installer in Corrales, the EcoWatch team has put together a list of our top suggestions here:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
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 Corrales
Factors that Affect Solar Panel Costs in Corrales
The cost of installing a solar system in Corrales can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That's why it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. The kind of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to think about 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 falls within your budget.
Solar Financing Terms
Most solar installers in Corrales offer solar loans, which reduce the initial cost of installing a solar system. While solar loans make going solar more accessible for Corrales homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you choose to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Corrales, and each can charge varying amounts for labor and equipment. The company's size can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $26,368 | 7.7 years |
| 8 kW | $2.73 | $15,308 | $35,457 | 7.5 years |
| 10 kW | $2.68 | $18,760 | $44,696 | 7.4 years |
| 12 kW | $2.63 | $22,062 | $54,086 | 7.2 years |
| 14 kW | $2.57 | $25,213 | $63,626 | 7.1 years |
| 16 kW | $2.52 | $28,215 | $73,315 | 6.9 years |
| 18 kW | $2.47 | $31,067 | $83,155 | 6.8 years |
| 20 kW | $2.41 | $33,768 | $93,145 | 6.7 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before deciding.
- Warranty: If you care about the longevity of your solar panels, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: Make sure you're on the same page with the installer regarding how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
- Contract: It's important to read your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Corrales, NM Solar Cost FAQs
What is the average cost of installing solar panels in Corrales?
This is a hard question to answer precisely, because the cost depends on a few different 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 be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Are solar panels free in Corrales?
You can't get solar panels for free in Corrales. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
How much can I save on power bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Corrales, 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?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can opt 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.