Solar Panel Cost Guide in Los Lunas, NM (2023 Update)
- Los Lunas Solar Installation Cost: $10,431
- 25-Year Savings: $28,534
- Payback Period: 6.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Los Lunas
Let's take a look at the average cost of solar panels in Los Lunas.
In Los Lunas, solar panels cost about 2.68 per watt on average. Using this figure, a typical 5.6-kW system would cost about $10,431 before the 30% 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 use, the type of solar panels you want to get, your solar contractor and more. But, once you've paid the initial cost of installation, the savings for most homeowners is quite good, with a net average savings of about $27,000 over 20 years on utility bills.
Click the button below to get connected to a top solar panel company in your area for a custom quote.
Solar savings over time in Los Lunas
| Year | Return on Investment |
|---|---|
| 1 years | $-8,872 |
| 3 years | $-5,755 |
| 5 years | $-2,638 |
| 7 years | $479 |
| 9 years | $3,597 |
| 11 years | $6,714 |
| 13 years | $9,831 |
| 15 years | $12,948 |
| 17 years | $16,065 |
| 19 years | $19,182 |
| 21 years | $22,299 |
| 23 years | $25,417 |
| 25 years | $28,534 |
Top Solar Installers in Los Lunas
Many homeowners choose to hire a solar installer since trying to put up solar panels by yourself can be a labor-intensive endeavor. Local solar installers can also help you optimize your return on investment by walking you through any local incentives you can take advantage of and by providing warranties and repairs.
Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Lunas
Factors that Affect Solar Panel Costs in Los Lunas
While the average cost of a solar system in Los Lunas is $10,431, your final cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,680. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Los Lunas, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Los Lunas to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in higher prices over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you select will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor. You may see national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $30,374 | 7.0 years |
| 8 kW | $2.73 | $15,308 | $40,798 | 6.8 years |
| 10 kW | $2.68 | $18,760 | $51,373 | 6.7 years |
| 12 kW | $2.63 | $22,062 | $62,098 | 6.6 years |
| 14 kW | $2.57 | $25,213 | $72,973 | 6.4 years |
| 16 kW | $2.52 | $28,215 | $83,998 | 6.3 years |
| 18 kW | $2.47 | $31,067 | $95,173 | 6.2 years |
| 20 kW | $2.41 | $33,768 | $106,498 | 6.0 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Los Lunas, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two 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 previous customers.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Los Lunas, NM Solar Cost FAQs
How much does it cost to install solar panels in Los Lunas?
The average cost of solar panels in Los Lunas 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 things such as the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Los Lunas?
A solar panel system isn't free in Los Lunas, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can you sell solar power back to the grid in Los Lunas?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.
How long do solar panels last in Los Lunas?
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 how much energy they produce will have decreased significantly after that point. You can decide to replace them after having 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.