Solar Panel Cost Guide in Los Chaves, NM (Mar 2023)
- Los Chaves Solar Installation Cost: $10,431
- 25-Year Savings: $29,247
- Payback Period: 6.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Los Chaves
Let's take a look at the average cost of solar panels in Los Chaves.
The average cost of a solar panel system in Los Chaves is 2.68 per watt. To cover the typical energy usage of the average home in Los Chaves, most homeowners require a 5.6-kilowatt system. Using the figure above, a solar installation costs around $10,431, or $14,916 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy use, the type of equipment you choose, your solar contractor and more. With typical savings of about $27,000 on electricity bills over 20 years, many homeowners in Los Chaves find installing solar panels can pay off big.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Los Chaves
| Year | Return on Investment |
|---|---|
| 1 years | $-8,843 |
| 3 years | $-5,669 |
| 5 years | $-2,495 |
| 7 years | $679 |
| 9 years | $3,853 |
| 11 years | $7,028 |
| 13 years | $10,202 |
| 15 years | $13,376 |
| 17 years | $16,550 |
| 19 years | $19,725 |
| 21 years | $22,899 |
| 23 years | $26,073 |
| 25 years | $29,247 |
Top Solar Installers in Los Chaves
Many homeowners opt for a solar panel installer since figuring out how to install solar panels yourself can be challenging. A solar company can also help save you money over time by offering warranties, repairs and part replacements.
If you'd like to switch to solar energy but still aren't certain which solar panel company to go with, here are our recommendations for providers near you:
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 Los Chaves
Factors that Affect Solar Panel Costs in Los Chaves
The cost of installing a solar system in Los Chaves can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay about $2,680 per kilowatt in Los Chaves. There are a lot of different solar panel brands and the one you choose also changes the cost. In general, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Los Chaves have solar loans, which reduce your upfront costs of installing solar. Although solar loans make adopting solar energy more accessible for Los Chaves homeowners, they can also raise 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
Finally, the company you choose to install your solar system can impact the cost. Los Chaves' solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and bulk 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 down 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 | $2.79 | $11,706 | $31,144 | 6.8 years |
| 8 kW | $2.73 | $15,308 | $41,825 | 6.7 years |
| 10 kW | $2.68 | $18,760 | $52,657 | 6.6 years |
| 12 kW | $2.63 | $22,062 | $63,639 | 6.4 years |
| 14 kW | $2.57 | $25,213 | $74,770 | 6.3 years |
| 16 kW | $2.52 | $28,215 | $86,052 | 6.2 years |
| 18 kW | $2.47 | $31,067 | $97,484 | 6.0 years |
| 20 kW | $2.41 | $33,768 | $109,066 | 5.9 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Los Chaves, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- 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 large role in the company you opt for.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
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 Los Chaves, NM Solar Cost FAQs
How much does it cost to install solar panels in Los Chaves?
The average cost of solar panels in Los Chaves is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
Solar panels can increase your property's value significantly 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 a solar system."
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 average daily 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.