Solar Panel Cost Guide in Eldorado At Santa Fe, NM (Dec 2022)

  • Eldorado At Santa Fe Solar Installation Cost: $10,599
  • 25-Year Savings: $29,963
  • Payback Period: 6.5 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 Eldorado At Santa Fe

Find out how much it might cost to make the switch to solar in Eldorado At Santa Fe.

Although the national average of solar panels is $2.66 per watt, solar panels in Eldorado At Santa Fe generally cost about $3. The average Eldorado At Santa Fe homeowner needs a 5.7-kilowatt system, which would cost about $10,599, or $7,843 after the federal solar tax credit of 30% is applied.

Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy needs, the type of solar system you choose, your solar contractor and more. Many homeowners find adopting solar power is a sound investment. The average homeowner in Eldorado At Santa Fe can save about $27,000 on their electricity bills over 20 years.

To receive a free quote from a highly rated solar installation company in Eldorado At Santa Fe, you can click the button below.

Solar savings over time in Eldorado At Santa Fe

Year Return on Investment
1 years $-8,977
3 years $-5,732
5 years $-2,487
7 years $758
9 years $4,003
11 years $7,248
13 years $10,493
15 years $13,738
17 years $16,983
19 years $20,228
21 years $23,473
23 years $26,718
25 years $29,963

Top Solar Installers in Eldorado At Santa Fe

Although it's possible to install solar panels by yourself, it takes extra labor and expertise. For that reason, almost all homeowners choose to hire a solar panel installer. The expertise that solar installers provide can be useful as well, particularly if you aren't sure what type of solar equipment would be right for your home.

Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:

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 Eldorado At Santa Fe

Factors that Affect Solar Panel Costs in Eldorado At Santa Fe

Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in Eldorado At Santa Fe: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly 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 about $2,680 per kilowatt in Eldorado At Santa Fe. There are many different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Many homeowners find the average cost of solar in Eldorado At Santa Fe to be too steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest. Though solar loans make switching to solar energy more accessible for Eldorado At Santa Fe 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 make a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

The final key cost factor you should take into consideration is the installer you choose. Given the massive popularity of clean energy solutions in Eldorado At Santa Fe, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that has the products, warranties and services you're looking for and also fits within your budget.

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 $31,353 6.8 years
8 kW $2.73 $15,308 $42,104 6.7 years
10 kW $2.68 $18,760 $53,005 6.5 years
12 kW $2.63 $22,062 $64,057 6.4 years
14 kW $2.57 $25,213 $75,258 6.3 years
16 kW $2.52 $28,215 $86,609 6.1 years
18 kW $2.47 $31,067 $98,111 6.0 years
20 kW $2.41 $33,768 $109,763 5.9 years

How to Save on Solar Panels

The solar installer you go with will impact not only your total 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 take into account, such as:

  • Warranty: If you're worried about the durability of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of 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 how much the equipment and services will cost and the terms of the warranty.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
  • Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.

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 Eldorado At Santa Fe, NM Solar Cost FAQs

What is the average cost of installing solar panels in Eldorado At Santa Fe?

This is a tough question to answer precisely, because the cost depends on many 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 other solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Can you get solar panels for free in Eldorado At Santa Fe?

Solar panels aren't free in Eldorado At Santa Fe, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.

How much can I save on energy bills after installing solar panels?

Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,435.31 per year.

How long do solar panels last in Eldorado At Santa Fe?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.

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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