Solar Panel Cost Guide in Rio Communities, NM (2024 Update)

  • Rio Communities Solar Installation Cost: $15,284
  • 25-Year Savings: $29,790
  • Payback Period: 9.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated May 20, 2024

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 Rio Communities

Find out what the average cost of solar panel installation is in Rio Communities.

The national average cost of solar panels is $2.66 per watt, but in Rio Communities it’s 4 per watt.The average solar panel system size in Rio Communities is around 5.6 kilowatts, meaning a cost of about $15,284 for a solar installation, or $21,856 before the 0 federal solar tax credit is applied.

How much you pay can be higher or lower than the average in Rio Communities depending on several factors, such as the type of solar panels you choose and the solar installer you hire.Despite the significant initial cost, the average Rio Communities homeowner can save about $28,000 on their energy bills over 20 years, which is one of the advantages of solar.

You can click the button below to get connected with a pre-vetted solar company in Rio Communities for a quote for your home.

Solar savings over time in Rio Communities

YearReturn on Investment
1 years$-14,195
3 years$-12,018
5 years$-9,841
7 years$-7,664
9 years$-5,486
11 years$-3,309
13 years$-1,132
15 years$1,045
17 years$3,223
19 years$5,400
21 years$7,577
23 years$9,754
25 years$11,932

Top Solar Installers in Rio Communities

Putting up solar panels yourself can be a stressful project, which is why using a solar installer is a good option for many homeowners. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.

If you're looking for a solar installer in Rio Communities, the EcoWatch team has organized a list of our top suggestions here:

Best for Leasing

Sunrun

★★★★★
4.0
  • 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

★★★★★
4.0
  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

Best Technology

Tesla Energy

★★★★★
3.2
  • 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 Rio Communities

Factors that Affect Solar Panel Costs in Rio Communities

Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Rio Communities: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover 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. For that reason, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.There are a lot of different solar panel brands and the one you pick also changes the cost. Generally, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

If paying for solar panels in cash is difficult, solar loans are a solid choice because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.Even though solar loans make adopting solar energy more accessible for Rio Communities homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

The solar panel installation company you pick will influence your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and decide on the company that offers the products, warranties and services you’re looking for and also fits within your budget.

Solar Panel Cost Data by System Size

System sizeCost per system wattSolar system cost25-Year savingsPayback period
6 kW$4.09$17,166$26,2629.9 years
8 kW$4.01$22,448$35,4569.7 years
10 kW$3.93$27,510$44,8709.5 years
12 kW$3.85$32,352$54,5049.3 years
14 kW$3.77$36,973$64,3589.1 years
16 kW$3.69$41,375$74,4338.9 years
18 kW$3.62$45,557$84,7278.7 years
20 kW$3.54$49,518$95,2428.6 years

How to Save on Solar Panels

Since the model of solar panels and the installer you choose greatly affects your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Contract: Before signing a contract with a solar installer, make sure to look it over carefully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
  • Solar Panel Brands: Different companies carry various brands and types of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
  • Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
  • Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.

Best for Leasing

Sunrun

★★★★★
4.0
  • 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

★★★★★
4.0
  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

Best Technology

Tesla Energy

★★★★★
3.2
  • 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 Rio Communities, NM Solar Cost FAQs

How much does it cost to install solar panels in Rio Communities?

The average cost of solar panels in Rio Communities is about $19,650 for a 5-kW system and $39,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.

Are solar panels free in Rio Communities?

Solar panels aren’t free in Rio Communities, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Does Rio Communities have a net metering program?

Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.

How many solar panels should I get to power my home?

To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.

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.