Solar Panel Cost Guide in El Cerro Mission, NM (2024 Update)
- El Cerro Mission Solar Installation Cost: $15,284
- 25-Year Savings: $28,542
- Payback Period: 9.8 Years
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Average Cost of Solar Panels in El Cerro Mission
Find out what the average cost of solar panel installation is in El Cerro Mission.
While the national average of solar panels is $2.66 per watt, solar panels in El Cerro Mission generally cost about 4.Since a 5.6-kW system is needed to cover the energy consumption of a typical home in El Cerro Mission, the average price of going solar will be about $15,284 after claiming the federal solar tax credit of 0.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy use, the type of solar system you want, your solar contractor and more.With typical savings of about $27,000 on utility bills over 20 years, many homeowners in El Cerro Mission find going solar has a decent ROI.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in El Cerro Mission
| Year | Return on Investment |
|---|---|
| 1 years | $-14,195 |
| 3 years | $-12,018 |
| 5 years | $-9,841 |
| 7 years | $-7,664 |
| 9 years | $-5,486 |
| 11 years | $-3,309 |
| 13 years | $-1,132 |
| 15 years | $1,045 |
| 17 years | $3,223 |
| 19 years | $5,400 |
| 21 years | $7,577 |
| 23 years | $9,754 |
| 25 years | $11,932 |
Top Solar Installers in El Cerro Mission
When making the switch to solar, many homeowners prefer to use a solar company since DIY solar panel installation can be a time-consuming project. Some solar companies, especially local ones, can help you take advantage of incentives in El Cerro Mission, therefore optimizing your ROI.
If you're searching for a solar installer in El Cerro Mission, we've 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 El Cerro Mission
Factors that Affect Solar Panel Costs in El Cerro Mission
For many El Cerro Mission homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in El Cerro Mission, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels 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 El Cerro Mission.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your electric bills. Additionally, extra products, such as solar batteries, can bring your total well above the El Cerro Mission average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are available from most installers in El Cerro Mission, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar installation company you choose will influence your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.You may come across national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $24,914 | 10.2 years |
| 8 kW | $4.01 | $22,448 | $33,658 | 10.0 years |
| 10 kW | $3.93 | $27,510 | $42,623 | 9.8 years |
| 12 kW | $3.85 | $32,352 | $51,808 | 9.6 years |
| 14 kW | $3.77 | $36,973 | $61,213 | 9.4 years |
| 16 kW | $3.69 | $41,375 | $70,838 | 9.2 years |
| 18 kW | $3.62 | $45,557 | $80,683 | 9.0 years |
| 20 kW | $3.54 | $49,518 | $90,748 | 8.8 years |
How to Save on Solar Panels
The solar installer you choose will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, such as:
- Solar Panel Brands: Different companies carry various brands and models of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
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 El Cerro Mission, NM Solar Cost FAQs
How much does it cost to install solar panels in El Cerro Mission?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 other solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in El Cerro Mission?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Is making the switch to solar worth it?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out 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 home 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.