Solar Panel Cost Guide in Paradise Hills, NM (2024 Update)
- Paradise Hills Solar Installation Cost: $15,361
- 25-Year Savings: $25,395
- Payback Period: 10.7 Years
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Average Cost of Solar Panels in Paradise Hills
Find out what the average cost of solar panels are in Paradise Hills.
The average cost of a solar panel system in Paradise Hills is 4 per watt.The average solar panel system size in Paradise Hills is around 5.6 kilowatts, meaning a cost of about $15,361 for a solar installation, or $21,966 before the 0 federal solar tax credit is applied.
These figures are only averages, and your own solar costs may vary based on the amount of energy your home requires and what company you want to go with.But, after you've paid the upfront cost of installation, the savings for most homeowners is usually rewarding, with a net average savings of about $24,000 over 20 years on power bills.
To receive a free estimate from a vetted solar installer in Paradise Hills, you can click the button below.
Solar savings over time in Paradise Hills
| 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 Paradise Hills
Although you can install solar panels on your own, it takes extra time and handiness. That's one of the reasons most people choose a solar panel installer. A solar company can also help save you money in the long run by offering warranties, repairs and system component replacements.
Working with a vetted solar company can help you make the most of your investment in solar. 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
Best Technology
Tesla Energy
- 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
See all of the solar companies in Paradise Hills
Factors that Affect Solar Panel Costs in Paradise Hills
There are several factors that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
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 uses, the larger your system will likely need to be. You can expect to spend around $3,930 per kilowatt in Paradise Hills.There are a lot of different solar panel brands and the one you choose also changes the cost. Usually, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Paradise Hills have solar loans, which reduce your upfront costs of installing solar panels.However, the interest on solar loans also increases your overall costs, so it’s crucial to take that into consideration as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Paradise Hills, and each can charge varying amounts for labor and 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 larger 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 | $21,378 | 11.1 years |
| 8 kW | $4.01 | $22,448 | $28,944 | 10.9 years |
| 10 kW | $3.93 | $27,510 | $36,731 | 10.7 years |
| 12 kW | $3.85 | $32,352 | $44,737 | 10.5 years |
| 14 kW | $3.77 | $36,973 | $52,964 | 10.3 years |
| 16 kW | $3.69 | $41,375 | $61,410 | 10.1 years |
| 18 kW | $3.62 | $45,557 | $70,077 | 9.8 years |
| 20 kW | $3.54 | $49,518 | $78,963 | 9.6 years |
How to Save on Solar Panels
The solar installer you go with will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, including:
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one mark of a good company.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Contract: Before signing a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
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 Technology
Tesla Energy
- 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
EcoWatch's Paradise Hills, NM Solar Cost FAQs
What is the average cost of installing solar panels in Paradise Hills?
This is a tough question to answer precisely, because the cost depends on many 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 more efficient 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 expensive solar panels.
Is it better to lease or buy solar panels in Paradise Hills?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Does Paradise Hills have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Paradise Hills?
Though 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 their energy production 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.