Solar Panel Cost Guide in Holloman AFB, NM (2024 Update)
- Holloman AFB Solar Installation Cost: $15,001
- 25-Year Savings: $32,328
- Payback Period: 8.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Holloman AFB
Find out what the average cost of installing solar panels is in Holloman AFB.
Although the national average of solar panels is $2.66 per watt, solar panels in Holloman AFB typically cost about 4.The average Holloman AFB homeowner needs a 5.5-kilowatt system, which would cost about $15,001 with the federal tax credit, or $21,451 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Holloman AFB homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Even with the significant initial cost, the average Holloman AFB homeowner can save about $30,000 on their energy bills over 20 years, which is one of the positives of solar.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Holloman AFB
| Year | Return on Investment |
|---|---|
| 1 years | $-14,087 |
| 3 years | $-12,259 |
| 5 years | $-10,431 |
| 7 years | $-8,603 |
| 9 years | $-6,776 |
| 11 years | $-4,948 |
| 13 years | $-3,120 |
| 15 years | $-1,292 |
| 17 years | $535 |
| 19 years | $2,363 |
| 21 years | $4,191 |
| 23 years | $6,019 |
| 25 years | $7,847 |
Top Solar Installers in Holloman AFB
Trying to install solar panels by yourself can be a difficult project, which is why hiring a solar installation company is a good option for many homeowners. Another perk of working with a solar installer is that they can help you make the most of your investment by cutting back on future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
Working with a professional solar company can make going solar easier. Here are our recommendations:
Best National Provider
SunPower
- 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
- 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
- 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 Holloman AFB
Factors that Affect Solar Panel Costs in Holloman AFB
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Holloman AFB: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $3,930 per kilowatt in Holloman AFB.The kind of solar equipment you choose can bring your price up or down 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 power bills. In addition, extra products, like solar batteries, can bring your total well above the Holloman AFB average.
Solar Financing Terms
Most solar companies in Holloman AFB have solar loans, which reduce the initial cost of installing solar panels.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Holloman AFB is the company you choose to install your solar system. Similar to choosing a company to install new cabinets, for instance, you’ll have many options for solar installers that offer a range of services at different costs.The size of the company can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $29,662 | 9.2 years |
| 8 kW | $4.01 | $22,448 | $39,989 | 9.0 years |
| 10 kW | $3.93 | $27,510 | $50,536 | 8.8 years |
| 12 kW | $3.85 | $32,352 | $61,304 | 8.6 years |
| 14 kW | $3.77 | $36,973 | $72,291 | 8.5 years |
| 16 kW | $3.69 | $41,375 | $83,499 | 8.3 years |
| 18 kW | $3.62 | $45,557 | $94,927 | 8.1 years |
| 20 kW | $3.54 | $49,518 | $106,575 | 7.9 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Though reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
- Installation Process: When going solar, it’s essential to maintain an open line of communication with your solar panel company. Confirm that you understand how the installation process works and the project timeline.
Best National Provider
SunPower
- 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
- 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
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Holloman AFB, NM Solar Cost FAQs
How much does it cost to install solar panels in Holloman AFB?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally 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 higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Are solar panels free in Holloman AFB?
You can’t get solar panels for free in Holloman AFB. 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 want to own your solar panels, you can finance them with a solar loan.
Does Holloman AFB have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.