Solar Panel Cost Guide in Edgewood, NM (Feb 2023)
- Edgewood Solar Installation Cost: $10,581
- 25-Year Savings: $31,936
- Payback Period: 6.2 Years
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Top Solar Installers in Edgewood
Trying to put up solar panels by yourself can be a challenging project, which is why getting a solar installer is a good option for many homeowners. Also, companies with a high reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you'd like to go solar but still aren't certain which solar panel company to go with, here are our recommendations for providers near you:
See all of the solar companies in Edgewood
Factors that Affect Solar Panel Costs in Edgewood
The cost of installing a solar system in Edgewood can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,680. The type of solar panels and equipment you choose is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Moreover, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are provided by most installers in Edgewood, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to clean energy can play a role in your total costs. There are about 3 solar installation companies operating in Edgewood, and each can charge different amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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||$33,488||6.5 years|
|8 kW||$2.73||$15,308||$44,951||6.4 years|
|10 kW||$2.68||$18,760||$56,564||6.2 years|
|12 kW||$2.63||$22,062||$68,326||6.1 years|
|14 kW||$2.57||$25,213||$80,239||6.0 years|
|16 kW||$2.52||$28,215||$92,303||5.9 years|
|18 kW||$2.47||$31,067||$104,516||5.7 years|
|20 kW||$2.41||$33,768||$116,879||5.6 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 select the right company for you, here are some tips to keep in mind:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can look into your installer's reputation is by reading reviews.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Solar Panel Brands: The model of solar panel you need to get plays a role in which installer you should go with, since different companies offer different panels.
- Contract: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
EcoWatch's Edgewood, NM Solar Cost FAQs
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.