Solar Panel Cost Guide in Roswell, NM (2023 Update)
- Roswell Solar Installation Cost: $15,006
- 25-Year Savings: $23,685
- Payback Period: 11.1 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Roswell
Here’s how much it might cost to switch to solar power in Roswell.
Although the national average of solar panels is $2.66 per watt, solar panels in Roswell generally cost about 4.To cover the typical energy needs of the average home in Roswell, most homeowners require a 5.5-kilowatt system. Using the per-watt figure above, a solar installation costs about $15,006, or $21,459 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of making the switch to solar can vary based on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with.With average savings of about $24,000 on power bills over 20 years, many homeowners in Roswell find going solar has a decent ROI.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Roswell
| Year | Return on Investment |
|---|---|
| 1 years | $-14,006 |
| 3 years | $-12,006 |
| 5 years | $-10,006 |
| 7 years | $-8,006 |
| 9 years | $-6,006 |
| 11 years | $-4,006 |
| 13 years | $-2,006 |
| 15 years | $-6 |
| 17 years | $1,994 |
| 19 years | $3,994 |
| 21 years | $5,994 |
| 23 years | $7,994 |
| 25 years | $9,995 |
Top Solar Installers in Roswell
Many homeowners opt for a solar panel company since installing solar panels yourself can be a labor-intensive endeavor. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance in the long run.
If you’d like to start using solar energy but still aren’t certain which solar panel installer to go with, here are our suggestions for providers near you:
See all of the solar companies in Roswell
Factors that Affect Solar Panel Costs in Roswell
The cost of installing a solar system in Roswell can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,930.There are several different solar panel brands and the one you pick also affects the cost. Generally, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Roswell have solar loans, which reduce your upfront costs of installing solar panels.Though solar loans make switching to solar energy more accessible for Roswell homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installation company you select will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor.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 specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $4.09 | $17,166 | $20,142 | 11.5 years |
| 8 kW | $4.01 | $22,448 | $27,297 | 11.3 years |
| 10 kW | $3.93 | $27,510 | $34,671 | 11.1 years |
| 12 kW | $3.85 | $32,352 | $42,265 | 10.8 years |
| 14 kW | $3.77 | $36,973 | $50,080 | 10.6 years |
| 16 kW | $3.69 | $41,375 | $58,115 | 10.4 years |
| 18 kW | $3.62 | $45,557 | $66,369 | 10.2 years |
| 20 kW | $3.54 | $49,518 | $74,844 | 10.0 years |
How to Save on Solar Panels
The solar company you opt for will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, such as:
- Contract: Before signing a contract with a solar installer, make sure to read it through carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
EcoWatch's Roswell, NM Solar Cost FAQs
How much does it cost to install solar panels in Roswell?
The average cost of solar panels in Roswell 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 certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Roswell?
Leasing solar panels can be an appealing choice, as it often 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 option if you want to maximize your savings.
Do solar panels increase the value of your home?
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 $143,278, which means you can expect a value of about $5,874 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 many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.