Solar Panel Cost Guide in Paradise Hills, NM (Jan 2023)
- Paradise Hills Solar Installation Cost: $10,468
- 25-Year Savings: $25,402
- Payback Period: 7.3 Years
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Top Solar Installers in Paradise Hills
Many homeowners opt for a solar panel installer since trying to put up solar panels on your own can be a labor-intensive endeavor. A solar company can also help save you money over time by offering warranties, repairs and part replacements.
If you'd like to make the switch to solar but still aren't sure which solar panel installer to go with, here are our suggestions for providers near you:
See all of the solar companies in Paradise Hills
Factors that Affect Solar Panel Costs in Paradise Hills
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 Paradise Hills: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $2,680 per kilowatt in Paradise Hills. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your power bills. Additionally, extra products, such as solar batteries, can bring your total well above the Paradise Hills average.
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 Paradise Hills homeowners decide to finance their solar panel systems to offset upfront costs. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal 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 remaining key cost factor you should keep in mind is the installer you choose. Given the massive popularity of renewable energy solutions in Paradise Hills, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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||$26,838||7.6 years|
|8 kW||$2.73||$15,308||$36,084||7.4 years|
|10 kW||$2.68||$18,760||$45,481||7.3 years|
|12 kW||$2.63||$22,062||$55,027||7.2 years|
|14 kW||$2.57||$25,213||$64,724||7.0 years|
|16 kW||$2.52||$28,215||$74,570||6.9 years|
|18 kW||$2.47||$31,067||$84,567||6.7 years|
|20 kW||$2.41||$33,768||$94,713||6.6 years|
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
EcoWatch's Paradise Hills, NM Solar Cost FAQs
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.