Solar Panel Cost Guide in Ruidoso, NM (2025 Update)
- Ruidoso Solar Installation Cost: $15,304
- 25-Year Savings: $32,979
- Payback Period: 8.8 Years
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Average Cost of Solar Panels in Ruidoso
We go over average solar pricing in Ruidoso.
The national average cost of solar panels is $2.66 per watt, but in Ruidoso it’s 4 per watt.To cover the typical energy usage 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.
These figures are only estimates, and your own solar costs will look different based on your specific situation and what company you go with.But, after you've paid the initial cost of installation, the savings for most homeowners is typically fruitful, with a net average savings of about $30,000 over 20 years on electricity bills.
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
Many homeowners opt for a solar installation company since figuring out how to install solar panels on your own can be a labor-intensive endeavor. Companies can also have access to quality options of the best solar panels and help you choose which one will be best for you.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some in Ruidoso:
See all of the solar companies in Ruidoso
Factors that Affect Solar Panel Costs in Ruidoso
While the average cost of a solar system in Ruidoso is $15,304, your actual cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need 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.The type of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment consists of more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Ruidoso to be too steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar company you select will impact your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.The size of the company sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 numerous companies available in Ruidoso, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
- Warranty: If you’re concerned about the longevity of your solar system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
EcoWatch's Ruidoso, NM Solar Cost FAQs
What is the average cost of installing solar panels in Ruidoso?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase the value of your home?
Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
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 stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using 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.