Solar Panel Cost Guide in Los Ranchos de Albuquerque, NM (2024 Update)
- Los Ranchos de Albuquerque Solar Installation Cost: $15,361
- 25-Year Savings: $25,493
- Payback Period: 10.7 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Los Ranchos de Albuquerque
We break down average solar pricing in Los Ranchos de Albuquerque.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Los Ranchos de Albuquerque, the average cost of a solar system is 4 per watt.The average Los Ranchos de Albuquerque homeowner needs a 5.6-kilowatt system, which would cost about $15,361 with the federal tax credit, or $21,966 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Los Ranchos de Albuquerque homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.With average savings of about $24,000 on energy bills over 20 years, many homeowners in Los Ranchos de Albuquerque find installing solar panels can pay off big.
Click the button below to get connected to a reputable solar company in your area for a custom estimate.
Solar savings over time in Los Ranchos de Albuquerque
| Year | Return on Investment |
|---|---|
| 1 years | $-14,272 |
| 3 years | $-12,095 |
| 5 years | $-9,918 |
| 7 years | $-7,740 |
| 9 years | $-5,563 |
| 11 years | $-3,386 |
| 13 years | $-1,209 |
| 15 years | $969 |
| 17 years | $3,146 |
| 19 years | $5,323 |
| 21 years | $7,500 |
| 23 years | $9,677 |
| 25 years | $11,855 |
Top Solar Installers in Los Ranchos de Albuquerque
Although you can install solar panels by yourself, it involves extra effort and know-how. Because of that, most homeowners choose a solar panel installer. The payback period on an investment in solar panels will vary depending on factors like your roof configuration and energy needs, but working with a solar company can shorten it. Your provider will be able to help you identify incentives available in your area.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
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 Ranchos de Albuquerque
Factors that Affect Solar Panel Costs in Los Ranchos de Albuquerque
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that determine your overall cost in Los Ranchos de Albuquerque: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,930. The brand and type 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 often come at a higher price 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. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Los Ranchos de Albuquerque homeowners decide to finance their solar panel systems to offset upfront costs.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you hire to install your solar panel system can impact how much it costs. Los Ranchos de Albuquerque’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and better 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 companies.
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 | $21,483 | 11.1 years |
| 8 kW | $4.01 | $22,448 | $29,084 | 10.9 years |
| 10 kW | $3.93 | $27,510 | $36,905 | 10.7 years |
| 12 kW | $3.85 | $32,352 | $44,947 | 10.5 years |
| 14 kW | $3.77 | $36,973 | $53,208 | 10.2 years |
| 16 kW | $3.69 | $41,375 | $61,690 | 10.0 years |
| 18 kW | $3.62 | $45,557 | $70,391 | 9.8 years |
| 20 kW | $3.54 | $49,518 | $79,313 | 9.6 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The model of solar panel you want to install plays a part in which company you should go with, since different companies provide different panels.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: Read the contract terms carefully to make sure you understand the overall cost, project timeline incentives and warranties.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a quality company.
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 Ranchos de Albuquerque, NM Solar Cost FAQs
How much does it cost to install solar panels in Los Ranchos de Albuquerque?
The average cost of solar panels in Los Ranchos de Albuquerque 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 such as the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Los Ranchos de Albuquerque?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
How will having solar panels impact my home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Los Ranchos de Albuquerque is currently $623,194, which means you can look forward to a value of about $25,551 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Los Ranchos de Albuquerque is a worthwhile investment.
How often do you have to replace solar panels?
Although 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 the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using 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.