Solar Panel Cost Guide in Edgewood, NM (Nov 2022)

  • Edgewood Solar Installation Cost: $10,581
  • 25-Year Savings: $31,936
  • Payback Period: 6.2 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Edgewood

Find out what the average cost of a solar system is in Edgewood.

In Edgewood, solar panels cost about $3 per watt on average. To cover the typical energy usage of the average home in Edgewood, most homeowners require a 5.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $10,581, or $7,830 after the federal solar tax credit of 30% is applied.

Keep in mind 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, your solar contractor and more. Many homeowners find adopting solar power is a sound investment. The average homeowner in Edgewood can save about $29,000 on their electricity bills over 20 years.

To receive a free quote from a pre-vetted solar installer in Edgewood, you can click the button below.

Solar savings over time in Edgewood

Year Return on Investment
1 years $-8,880
3 years $-5,479
5 years $-2,077
7 years $1,324
9 years $4,725
11 years $8,127
13 years $11,528
15 years $14,929
17 years $18,330
19 years $21,732
21 years $25,133
23 years $28,534
25 years $31,936

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:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

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.

Solar Equipment

The size of the solar system you need for your home 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.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Edgewood, NM Solar Cost FAQs

How much does it cost to install solar panels in Edgewood?

This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly 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 cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.

Are solar panels free in Edgewood?

You can't get solar panels for free in Edgewood. However, you may still be able to afford 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 will installing solar panels impact my home value?

Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Edgewood is currently $223,688, so you can expect about a value of about $9,171 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Edgewood is a rewarding investment.

What solar power system size is right for my home?

To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.

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.

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