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 typical cost of solar panels is 4 per watt.The average North Valley 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.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of installing solar panels can vary quite a bit depending on multiple factors, such as how many panels you need, your energy usage and what solar installer you go with.For many homeowners, the upfront cost of solar is worth paying. On average homeowners in North Valley see about $26,000 in savings on utility bills over 20 years.
Click the button below to get connected to a vetted solar panel company in North Valley for a custom quote.
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
When making the switch to solar, many homeowners opt to go with a solar installer since handling can be a difficult project. Also, companies with a high reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you're searching for a solar installer in North Valley, the EcoWatch team has organized a list of our top suggestions here:
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 North Valley
Factors that Affect Solar Panel Costs in North Valley
The cost of installing a solar system in North Valley can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar panel 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 nearly $3,930. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like North Valley, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited 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
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many North Valley homeowners opt to finance their solar panel systems to make paying for solar more affordable.While solar loans make going solar more accessible for North Valley homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies operating in North Valley, and each can charge varying amounts for labor and 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 pricing because of access to more 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 discount can bring their pricing lower 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 | $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 models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the gold standard in the business, and offering such a warranty is one sign of a good company.
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Installation Process: When going solar, it’s crucial to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process works and the project completion timeline.
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 North Valley, NM Solar Cost FAQs
What is the average cost of installing solar panels in North Valley?
The average cost of solar panels in North Valley 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 things such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
The upfront cost is a crucial 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 be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is it worth going solar in North Valley?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.