Solar Panel Cost Guide in Farmington, NM (2024 Update)

  • Farmington Solar Installation Cost: $15,900
  • 25-Year Savings: $18,828
  • Payback Period: 13.4 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Farmington

See how much it might cost to switch to solar power in Farmington.

The national average cost of solar panels is $2.66 per watt, but in Farmington it’s 4 per watt.Using this figure, a typical 5.8-kW system would cost about $15,900 before the 0 federal solar tax credit is applied.

These figures are only averages, and your own solar costs will most likely differ based on your energy needs and what company you want to go with.Many homeowners find adopting solar power is a solid investment. The average homeowner in Farmington can save around $20,000 on their power bills over 20 years.

Click the button below to get connected to a vetted solar installer in Farmington for a personalized quote.

Solar savings over time in Farmington

Year Return on Investment
1 years $-14,978
3 years $-13,132
5 years $-11,287
7 years $-9,442
9 years $-7,597
11 years $-5,752
13 years $-3,907
15 years $-2,062
17 years $-217
19 years $1,628
21 years $3,473
23 years $5,318
25 years $7,163

Top Solar Installers in Farmington

DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Using a solar panel installer can make swapping over to solar power much easier. The expertise that solar companies provide can be invaluable as well, particularly if you aren’t sure what kind of solar equipment would be right for your home.

Working with a professional solar company can make going solar easier. 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 for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

See all of the solar companies in Farmington

Factors that Affect Solar Panel Costs in Farmington

There are many factors that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.

Solar Equipment

When it comes to estimating the price of a solar energy system in Farmington, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can determine by looking at past electricity bills. Your total cost can increase by about $3,930 for each additional kilowatt you need.There are many different solar panel brands and the one you pick also affects the cost. Usually, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Most solar companies in Farmington offer solar loans, which reduce the initial cost of installing solar panels.However, the interest on solar loans also increases your total costs, so it’s vital to include that in your estimate as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.

Solar Panel Installation Company

The solar company you choose will influence your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and go with the company that provides the products, warranties and services you want and also fit into 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 $4.09 $17,166 $13,635 13.9 years
8 kW $4.01 $22,448 $18,620 13.7 years
10 kW $3.93 $27,510 $23,825 13.4 years
12 kW $3.85 $32,352 $29,250 13.1 years
14 kW $3.77 $36,973 $34,896 12.9 years
16 kW $3.69 $41,375 $40,761 12.6 years
18 kW $3.62 $45,557 $46,847 12.3 years
20 kW $3.54 $49,518 $53,152 12.1 years

How to Save on Solar Panels

Since the kind of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
  • Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and how long the project will take.
  • Solar Panel Brands: The type of solar panel you want to get plays a role in which company you should choose, since different companies offer different panels.
  • Contract: Before you sign a contract with a solar installer, make sure to look it over fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.

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 for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Farmington, NM Solar Cost FAQs

What is the average cost of installing solar panels in Farmington?

This is a tough question to answer exactly, because the cost depends on a few different 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. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.

Can you get solar panels for free in Farmington?

You can’t get solar panels for free in Farmington. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.

Does Farmington have a net metering program?

Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future utility bills.

How long do solar panels last in Farmington?

Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use 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.

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