Solar Panel Cost Guide in Ruidoso, NM (2024 Update)

  • Ruidoso Solar Installation Cost: $15,304
  • 25-Year Savings: $32,979
  • Payback Period: 8.8 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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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 Ruidoso

We go over average solar pricing in Ruidoso.

The average cost of a solar system in Ruidoso is 4 per watt.To cover the typical energy needs of the average home in Ruidoso, most homeowners require a 5.6-kilowatt system. Using the figure above, a solar installation costs about $15,304, or $21,885 before the federal solar tax credit of 0 is applied.

Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy needs, the type of solar system you want, your solar contractor and more.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Ruidoso can save about $30,000 on their power bills over 20 years.

For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Ruidoso

Year Return on Investment
1 years $-14,151
3 years $-11,847
5 years $-9,543
7 years $-7,238
9 years $-4,934
11 years $-2,630
13 years $-325
15 years $1,979
17 years $4,283
19 years $6,588
21 years $8,892
23 years $11,197
25 years $13,501

Top Solar Installers in Ruidoso

DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Going with an installer can make swapping over to solar power much easier. Companies can also have access to various kinds of the best solar panels and help you pick which one will be best for your home.

If you’d like to make the switch to solar but still aren’t sure which solar installer to go with, here are our suggestions for providers near you:

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 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

See all of the solar companies in Ruidoso

Factors that Affect Solar Panel Costs in Ruidoso

The cost of installing a solar system in Ruidoso can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.

Solar Equipment

The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,930. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Ruidoso to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in paying more over time because of interest.Even though solar loans make switching to solar energy more accessible for Ruidoso 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 installer you pick will affect your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 $29,659 9.2 years
8 kW $4.01 $22,448 $39,986 9.0 years
10 kW $3.93 $27,510 $50,532 8.8 years
12 kW $3.85 $32,352 $61,299 8.6 years
14 kW $3.77 $36,973 $72,286 8.5 years
16 kW $3.69 $41,375 $83,493 8.3 years
18 kW $3.62 $45,557 $94,920 8.1 years
20 kW $3.54 $49,518 $106,567 7.9 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 brands and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
  • Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While 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 take a look at their list of options before making your decision.
  • Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.

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 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

EcoWatch's Ruidoso, NM Solar Cost FAQs

How much does it cost to install solar panels in Ruidoso?

This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $19,650 for a 5-kW system and $39,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.

Is cost the most important consideration when buying solar panels?

The initial cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.

Do solar panels increase your property value?

Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Ruidoso is currently $316,184, so you can expect a value of about $12,964 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Ruidoso is a rewarding investment.

How long do solar panels last in Ruidoso?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.

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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