Solar Panel Cost Guide in Lee Acres, NM (2024 Update)

  • Lee Acres Solar Installation Cost: $15,900
  • 25-Year Savings: $21,385
  • Payback Period: 12.3 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

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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 Lee Acres

Let’s take a look at the average cost of solar panels in Lee Acres.

In Lee Acres, solar panels cost about 4 per watt on average.The average solar panel system size in Lee Acres is around 5.8 kilowatts, meaning a cost of about $15,900 for a solar installation, or $22,737 before the 0 federal solar tax credit is applied.

Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy consumption, the type of equipment you want, your solar contractor and more.Even with the large initial cost, the average Lee Acres homeowner can save about $21,000 on their electricity bills over 20 years, which is one of the positives of solar.

Click the button below to get connected to a highly rated solar panel company in Lee Acres for a custom quote.

Solar savings over time in Lee Acres

Year Return on Investment
1 years $-14,937
3 years $-13,011
5 years $-11,085
7 years $-9,159
9 years $-7,233
11 years $-5,306
13 years $-3,380
15 years $-1,454
17 years $472
19 years $2,398
21 years $4,324
23 years $6,250
25 years $8,176

Top Solar Installers in Lee Acres

Installing solar panels by yourself can be a dangerous undertaking, which is why getting a solar installation company is a good option for many homeowners. Also, if you’d like to maximize your investment in solar, going with a solar installer can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.

If you're searching for a solar company in Lee Acres, the EcoWatch team has compiled a list of our top suggestions here:

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 Lee Acres

Factors that Affect Solar Panel Costs in Lee Acres

There are many factors that can play into your total 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 Lee Acres, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can determine by looking at past energy bills. Your total cost can increase by about $3,930 for each additional kilowatt you need.The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Lee Acres to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in paying more over time due to interest.While solar loans make switching to solar energy more accessible for Lee Acres homeowners, they can also add to 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 keep in mind is the installer you choose. Given the massive popularity of renewable energy solutions in Lee Acres, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.Additionally, some companies in Lee Acres know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.

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 $16,290 12.8 years
8 kW $4.01 $22,448 $22,160 12.6 years
10 kW $3.93 $27,510 $28,250 12.3 years
12 kW $3.85 $32,352 $34,560 12.1 years
14 kW $3.77 $36,973 $41,090 11.8 years
16 kW $3.69 $41,375 $47,841 11.6 years
18 kW $3.62 $45,557 $54,811 11.3 years
20 kW $3.54 $49,518 $62,002 11.1 years

How to Save on Solar Panels

The solar panel company you go with will affect 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 a few important things you should consider, including:

  • Solar Panel Brands: Different companies will have various brands and types of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
  • Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
  • Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
  • Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.

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 Lee Acres, NM Solar Cost FAQs

How much does it cost to install solar panels in Lee Acres?

This is a hard question to answer precisely, 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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-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 Lee Acres?

You can’t get solar panels for free in Lee Acres. However, you may still be able to afford 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.

Do solar panels increase the value of your home?

Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lee Acres is currently $237,833, which means you can look forward to a value of about $9,751 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lee Acres is a fruitful investment.

What solar power system size is right for my home?

To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.

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