Solar Panel Cost Guide in Holloman Air Force Base, NM (Mar 2023)
- Holloman Air Force Base Solar Installation Cost: $10,224
- 25-Year Savings: $32,333
- Payback Period: 6.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Holloman Air Force Base
Find out what the average cost of solar panel installation is in Holloman Air Force Base.
In Holloman Air Force Base, solar panels cost about 2.68 per watt on average. Since a 5.5-kW system is needed to cover the energy usage of a typical home in Holloman Air Force Base, the average price of going solar will be about $10,224 after claiming the federal solar tax credit of 30%.
These figures are just averages, and the cost of going solar for you may differ based on the amount of energy your home requires and what company you go with. For most homeowners, the upfront investment in solar power is worth paying. On average homeowners in Holloman Air Force Base see about $30,000 in savings on energy bills over 20 years.
To receive a free quote from a top solar installation company in Holloman Air Force Base, you can click the button below.
Solar savings over time in Holloman Air Force Base
| Year | Return on Investment |
|---|---|
| 1 years | $-8,522 |
| 3 years | $-5,117 |
| 5 years | $-1,713 |
| 7 years | $1,692 |
| 9 years | $5,096 |
| 11 years | $8,501 |
| 13 years | $11,906 |
| 15 years | $15,310 |
| 17 years | $18,715 |
| 19 years | $22,119 |
| 21 years | $25,524 |
| 23 years | $28,928 |
| 25 years | $32,333 |
Top Solar Installers in Holloman Air Force Base
Many homeowners choose to hire a solar installation company since trying to install solar panels on your own can be a lot of work. The expertise that solar companies offer can be useful as well, particularly if you don't quite know what type of solar equipment would be right for your home.
If you're on the hunt for a solar installer in Holloman Air Force Base, we've compiled a list of our top suggestions here:
Best Technology
Tesla Energy
- 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
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Holloman Air Force Base
Factors that Affect Solar Panel Costs in Holloman Air Force Base
Even though the average cost of a solar system in Holloman Air Force Base is $10,224, your final cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,680. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Holloman Air Force Base, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are offered by most installers in Holloman Air Force Base, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. When estimating your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the massive popularity of clean energy solutions in Holloman Air Force Base, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. The company's size can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $35,122 | 6.2 years |
| 8 kW | $2.73 | $15,308 | $47,129 | 6.1 years |
| 10 kW | $2.68 | $18,760 | $59,286 | 6.0 years |
| 12 kW | $2.63 | $22,062 | $71,594 | 5.9 years |
| 14 kW | $2.57 | $25,213 | $84,051 | 5.8 years |
| 16 kW | $2.52 | $28,215 | $96,659 | 5.6 years |
| 18 kW | $2.47 | $31,067 | $109,417 | 5.5 years |
| 20 kW | $2.41 | $33,768 | $122,325 | 5.4 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely provide high-quality solar panel installation and expertise.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Solar Panel Brands: The kind of solar panel you'd like to get plays a role in which company you should opt for, since different companies have different panels.
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
Best Technology
Tesla Energy
- 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
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Holloman Air Force Base, NM Solar Cost FAQs
What is the average cost of installing solar panels in Holloman Air Force Base?
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 be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Holloman Air Force Base?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
How will installing solar panels impact my home value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How often do you have to replace solar panels?
Even 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.