Solar Panel Cost Guide in North Valley, NM (2024 Update)
- North Valley Solar Installation Cost: $15,361
- 25-Year Savings: $27,585
- Payback Period: 10.1 Years
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Average Cost of Solar Panels in North Valley
Let’s take a look at the average cost of solar in North Valley.
Currently, the national average cost of solar panels is $2.66 per watt. However, in North Valley, the average cost of solar panels is 4 per watt.To cover the typical energy needs of the average home in North Valley, most homeowners require a 5.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $15,361, or $21,966 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average energy use of North Valley homeowners. The price 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.But, once you've paid the upfront cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $26,000 over 20 years on power bills.
You can click the button below to get connected with a pre-vetted solar company in North Valley that can help you get a more accurate cost estimate for your home.
Solar savings over time in North Valley
| 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 North Valley
Although you can install solar panels on your own, it involves extra labor and handiness. For that reason, almost all homeowners choose to go with a solar panel installer. Plus, if you’re not certain what brand of solar panels and equipment you need, a solar company can help you find the right equipment for you after a site survey and consultation.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in North Valley
Factors that Affect Solar Panel Costs in North Valley
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few key factors that determine your overall cost in North Valley: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.The brand of solar panels and equipment you want is another factor that will substantially affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Furthermore, solar equipment consists of more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in North Valley to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can play a role in determining your pricing. North Valley’s solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials 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 | $4.09 | $17,166 | $23,731 | 10.5 years |
| 8 kW | $4.01 | $22,448 | $32,082 | 10.3 years |
| 10 kW | $3.93 | $27,510 | $40,652 | 10.1 years |
| 12 kW | $3.85 | $32,352 | $49,443 | 9.9 years |
| 14 kW | $3.77 | $36,973 | $58,454 | 9.7 years |
| 16 kW | $3.69 | $41,375 | $67,685 | 9.5 years |
| 18 kW | $3.62 | $45,557 | $77,136 | 9.3 years |
| 20 kW | $3.54 | $49,518 | $86,807 | 9.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can research your installer’s reputation is by reading reviews.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's North Valley, NM Solar Cost FAQs
What is the average cost of installing solar panels in North Valley?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Is it worth going solar in North Valley?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in North Valley?
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 how much energy they produce will have decreased significantly after that point. You can opt 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.