Solar Panel Cost Guide in Santa Teresa, NM (2023 Update)
- Santa Teresa Solar Installation Cost: $10,093
- 25-Year Savings: $23,206
- Payback Period: 7.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Santa Teresa
We break down average solar pricing in Santa Teresa.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Santa Teresa, the average cost of a solar system is 2.68 per watt. The average solar panel system size in Santa Teresa is around 5.4 kilowatts, meaning a cost of about $10,093 for a solar installation, or $14,433 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Santa Teresa homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. With average savings of about $24,000 on electricity bills over 20 years, many homeowners in Santa Teresa find installing solar panels can pay off big.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Santa Teresa
| Year | Return on Investment |
|---|---|
| 1 years | $-8,761 |
| 3 years | $-6,097 |
| 5 years | $-3,433 |
| 7 years | $-769 |
| 9 years | $1,895 |
| 11 years | $4,558 |
| 13 years | $7,222 |
| 15 years | $9,886 |
| 17 years | $12,550 |
| 19 years | $15,214 |
| 21 years | $17,878 |
| 23 years | $20,542 |
| 25 years | $23,206 |
Top Solar Installers in Santa Teresa
When making the switch to solar, many homeowners choose to use a solar installation company since putting up solar panels yourself can be a difficult project. The expertise that solar installers offer can be useful as well, especially if you aren't sure what type of solar equipment would be right for your home.
If you'd like to start using solar energy but still aren't sure which solar installer to go with, here are our recommendations for providers in Santa Teresa:
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 Santa Teresa
Factors that Affect Solar Panel Costs in Santa Teresa
Though the average cost of a solar system in Santa Teresa is $10,093, your final cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your power bills. In addition, extra products, such as solar batteries, can bring your total well above the Santa Teresa average.
Solar Financing Terms
Most solar companies in Santa Teresa offer solar loans, which reduce your upfront costs of installing solar. However, the interest on solar loans also increases your overall costs, so it's crucial to include that in your estimate as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can influence the cost. Santa Teresa's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and go with the company that has the products, warranties and services you want and also fits within your budget.
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 | $25,400 | 7.9 years |
| 8 kW | $2.73 | $15,308 | $34,167 | 7.7 years |
| 10 kW | $2.68 | $18,760 | $43,084 | 7.6 years |
| 12 kW | $2.63 | $22,062 | $52,151 | 7.4 years |
| 14 kW | $2.57 | $25,213 | $61,368 | 7.3 years |
| 16 kW | $2.52 | $28,215 | $70,735 | 7.1 years |
| 18 kW | $2.47 | $31,067 | $80,252 | 7.0 years |
| 20 kW | $2.41 | $33,768 | $89,920 | 6.8 years |
How to Save on Solar Panels
The solar company you go with will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, such as:
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Warranty: If you're worried about the durability of your solar panel system, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can research your installer's reputation is by reading reviews.
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 Santa Teresa, NM Solar Cost FAQs
How much does it cost to install solar panels in Santa Teresa?
The average cost of solar panels in Santa Teresa 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 certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Santa Teresa?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Can you sell solar power back to the grid in Santa Teresa?
The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Santa Teresa?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.