Solar Panel Cost Guide in Rio Rancho, NM (Jan 2023)

  • Rio Rancho Solar Installation Cost: $10,581
  • 25-Year Savings: $26,532
  • Payback Period: 7.1 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

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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 Rancho

See how much it might cost to switch to solar power in Rio Rancho.

The average cost of solar panels in Rio Rancho is $3 per watt. The average solar panel system size in Rio Rancho is around 5.6 kilowatts, meaning a cost of about $10,581 for a solar installation, or $7,830 after the 30% federal solar tax credit is applied.

The true cost of your system can be higher or lower than the average in Rio Rancho depending on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire. With typical savings of about $25,000 on utility bills over 20 years, many homeowners in Rio Rancho find installing solar panels can pay off big.

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

Solar savings over time in Rio Rancho

Year Return on Investment
1 years $-9,096
3 years $-6,127
5 years $-3,158
7 years $-189
9 years $2,780
11 years $5,749
13 years $8,718
15 years $11,687
17 years $14,656
19 years $17,625
21 years $20,594
23 years $23,563
25 years $26,532

Top Solar Installers in Rio Rancho

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Hiring an installer can make swapping over to solar power much easier. The expertise that solar installers offer can be valuable as well, especially if you don't quite know what kind of solar equipment would be right for your home.

There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:

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 Rio Rancho

Factors that Affect Solar Panel Costs in Rio Rancho

There are many criteria that can influence your solar panel 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

Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That's why it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. Additionally, add-on products, like solar batteries, can bring your total well above the Rio Rancho average.

Solar Financing Terms

Most solar companies in Rio Rancho offer solar loans, which reduce the initial cost of installing solar panels. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.

Solar Panel Installation Company

A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Rio Rancho is the company you hire to install your PV system. Similar to choosing a company to install new cabinets, for instance, you'll have many options for solar installers that provide a range of services for different budgets. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.

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 $27,771 7.4 years
8 kW $2.73 $15,308 $37,328 7.3 years
10 kW $2.68 $18,760 $47,035 7.1 years
12 kW $2.63 $22,062 $56,892 7.0 years
14 kW $2.57 $25,213 $66,900 6.8 years
16 kW $2.52 $28,215 $77,057 6.7 years
18 kW $2.47 $31,067 $87,365 6.6 years
20 kW $2.41 $33,768 $97,822 6.4 years

How to Save on Solar Panels

There are a lot of 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:

  • Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options before deciding.
  • Contract: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
  • Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
  • Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the best you can get in the business, and offering such a warranty is one indication of a quality company.

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 Rio Rancho, NM Solar Cost FAQs

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

This is a hard question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $13,400 for a 5-kW system and $26,800 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.

Is cost the most important thing to consider when buying solar panels?

The upfront cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places 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.

How will having solar panels impact the value of my home?

Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Rio Rancho is currently $187,646, which means you can look forward to a value of about $7,693 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Rio Rancho is a worthwhile investment.

How often do you have to replace solar panels?

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 the amount of energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use 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.

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