Solar Panel Cost Guide in Roswell, NM (Mar 2023)
- Roswell Solar Installation Cost: $10,224
- 25-Year Savings: $23,694
- Payback Period: 7.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Roswell
Let's take a look at the average cost of solar panels in Roswell.
Although the national average of solar panels is $2.66 per watt, solar panels in Roswell generally cost around 2.68. The average Roswell homeowner needs a 5.5-kilowatt system, which would cost about $10,224 with the federal tax credit, or $14,620 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy consumption, the type of solar panels you choose, your solar contractor and more. Even with the high upfront cost, the average Roswell homeowner can save about $24,000 on their power bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a top solar company in Roswell for a quote for your home.
Solar savings over time in Roswell
| Year | Return on Investment |
|---|---|
| 1 years | $-8,867 |
| 3 years | $-6,154 |
| 5 years | $-3,441 |
| 7 years | $-727 |
| 9 years | $1,986 |
| 11 years | $4,700 |
| 13 years | $7,413 |
| 15 years | $10,127 |
| 17 years | $12,840 |
| 19 years | $15,554 |
| 21 years | $18,267 |
| 23 years | $20,981 |
| 25 years | $23,694 |
Top Solar Installers in Roswell
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Taking advantage of an installer can make switching to solar power much easier. Local solar companies can also help you maximize your return on investment by walking you through any local incentives you can benefit from and by providing warranties and repairs.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Roswell
Factors that Affect Solar Panel Costs in Roswell
There are several factors that can play into your solar system 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
When it comes to estimating the price of a solar system in Roswell, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can determine by looking at past energy bills. Your overall cost can increase by about $2,680 for each additional kilowatt you need. The type of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
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 Roswell homeowners opt to finance their solar panel systems to make paying for solar more affordable. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The final key cost factor you should keep in mind is the installer you choose. Given the massive popularity of sustainable energy solutions in Roswell, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions 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 | $25,602 | 7.8 years |
| 8 kW | $2.73 | $15,308 | $34,437 | 7.7 years |
| 10 kW | $2.68 | $18,760 | $43,421 | 7.5 years |
| 12 kW | $2.63 | $22,062 | $52,555 | 7.4 years |
| 14 kW | $2.57 | $25,213 | $61,840 | 7.2 years |
| 16 kW | $2.52 | $28,215 | $71,275 | 7.1 years |
| 18 kW | $2.47 | $31,067 | $80,859 | 6.9 years |
| 20 kW | $2.41 | $33,768 | $90,594 | 6.8 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Roswell, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: The brand of solar panel you want plays a role in which installer you should go with, since different companies have different panels.
- Contract: Before you sign a contract with a solar company, make sure to read it through carefully 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 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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Roswell, NM Solar Cost FAQs
What is the average cost of installing solar panels in Roswell?
The average cost of solar panels in Roswell is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Roswell?
Solar panels aren't free in Roswell, 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 can help lower the cost.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Roswell is currently $120,721, so you could be looking at a value of about $4,950 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Roswell is a rewarding investment.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose 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.