Solar Panel Cost Guide in Los Lunas, NM (2024 Update)
- Los Lunas Solar Installation Cost: $15,284
- 25-Year Savings: $28,542
- Payback Period: 9.8 Years
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Average Cost of Solar Panels in Los Lunas
Find out what the average cost of solar panels are in Los Lunas.
While the national average of solar panels is $2.66 per watt, solar panels in Los Lunas typically cost about 4.The average solar panel system size in Los Lunas is around 5.6 kilowatts, meaning a cost of about $15,284 for a solar installation, or $21,856 before the 0 federal solar tax credit is applied.
How much you pay can go above or below the average in Los Lunas depending on several factors, such as the model of solar panels you choose and the solar company you hire.Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Los Lunas can save about $27,000 on their electricity bills over 20 years.
To receive a free quote from a highly rated solar installer in Los Lunas, you can click the button below.
Solar savings over time in Los Lunas
| Year | Return on Investment |
|---|---|
| 1 years | $-14,195 |
| 3 years | $-12,018 |
| 5 years | $-9,841 |
| 7 years | $-7,664 |
| 9 years | $-5,486 |
| 11 years | $-3,309 |
| 13 years | $-1,132 |
| 15 years | $1,045 |
| 17 years | $3,223 |
| 19 years | $5,400 |
| 21 years | $7,577 |
| 23 years | $9,754 |
| 25 years | $11,932 |
Top Solar Installers in Los Lunas
Many homeowners decide to use a solar panel company since trying to put up solar panels by yourself can be a lot of work. Plus, if you’re not certain what brand of solar panels and equipment you may need, a solar company can help you find the right equipment for you after a site survey and consultation.
If you’d like to go solar but still aren’t sure which solar panel company to go with, here are our recommendations for providers in Los Lunas:
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 Los Lunas
Factors that Affect Solar Panel Costs in Los Lunas
The cost of installing a solar system in Los Lunas can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,930.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons 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 Los Lunas to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to higher prices over time due to interest.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 can only 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 interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you go with to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Los Lunas, and each can charge different amounts for labor and equipment.Additionally, some companies in Los Lunas are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $24,914 | 10.2 years |
| 8 kW | $4.01 | $22,448 | $33,658 | 10.0 years |
| 10 kW | $3.93 | $27,510 | $42,623 | 9.8 years |
| 12 kW | $3.85 | $32,352 | $51,808 | 9.6 years |
| 14 kW | $3.77 | $36,973 | $61,213 | 9.4 years |
| 16 kW | $3.69 | $41,375 | $70,838 | 9.2 years |
| 18 kW | $3.62 | $45,557 | $80,683 | 9.0 years |
| 20 kW | $3.54 | $49,518 | $90,748 | 8.8 years |
How to Save on Solar Panels
There are numerous companies to choose from in Los Lunas, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely provide good-quality solar panel installation and expertise.
- Contract: Look through the contract terms carefully to make sure you understand the total cost, project completion timeline rebates and warranties.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
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 Los Lunas, NM Solar Cost FAQs
What is the average cost of installing solar panels in Los Lunas?
The average cost of solar panels in Los Lunas is about $19,650 for a 5-kW system and $39,300 for a 10-kW system before the ITC, but the real cost will depend on stuff 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 consider when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,402.66 per year.
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 take a 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 install between 20 and 35 panels to account for 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.