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

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Paradise Hills

Let's take a look at the average cost of solar in Paradise Hills.

The average cost of a solar panel system in Paradise Hills is $3 per watt. Using this figure, a typical 5.6 would cost about $10,468 before the 30% federal solar tax credit is applied.

Bear in mind that the figures above are only estimates based on the average Paradise Hills homeowner. 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. With average savings of about $24,000 on power bills over 20 years, many homeowners in Paradise Hills find investing in solar has a decent ROI.

For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Paradise Hills

Year Return on Investment
1 years $-9,033
3 years $-6,164
5 years $-3,294
7 years $-424
9 years $2,445
11 years $5,315
13 years $8,184
15 years $11,054
17 years $13,924
19 years $16,793
21 years $19,663
23 years $22,533
25 years $25,402

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:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

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.

Solar Equipment

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.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Paradise Hills, NM Solar Cost FAQs

How much does it cost to install solar panels in Paradise Hills?

The average cost of solar panels in Paradise Hills is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.

Should I lease or buy solar panels in Paradise Hills?

Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property 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 financial benefits from going solar.

Do solar panels increase your property value?

Solar panels can increase your property's value considerably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."

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.

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