Solar Panel Cost Guide in Santa Teresa, NM (2024 Update)
- Santa Teresa Solar Installation Cost: $14,812
- 25-Year Savings: $23,198
- Payback Period: 11.1 Years
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Average Cost of Solar Panels in Santa Teresa
Here’s how much it might cost to switch to solar power in Santa Teresa.
The national average cost of solar panels is $2.66 per watt, but in Santa Teresa it’s 4 per watt.Since a 5.4-kW system is needed to cover the energy usage of a typical home in Santa Teresa, the average price of going solar will be about $14,812 after claiming the federal solar tax credit of 0.
How much you pay can be above or below the average in Santa Teresa depending on several factors, such as the type of solar panels you choose and the solar company you hire.Many homeowners find installing solar panels is a sound investment. The average homeowner in Santa Teresa can save about $24,000 on their power bills over 20 years.
You can click the button below to get connected with a top solar company in Santa Teresa that can help you get a more accurate cost estimate for your home.
Solar savings over time in Santa Teresa
| Year | Return on Investment |
|---|---|
| 1 years | $-13,986 |
| 3 years | $-12,332 |
| 5 years | $-10,679 |
| 7 years | $-9,026 |
| 9 years | $-7,373 |
| 11 years | $-5,720 |
| 13 years | $-4,067 |
| 15 years | $-2,414 |
| 17 years | $-761 |
| 19 years | $892 |
| 21 years | $2,545 |
| 23 years | $4,198 |
| 25 years | $5,851 |
Top Solar Installers in Santa Teresa
Although it's possible to install solar panels yourself, it takes extra labor and expertise. For that reason, most people choose to go with a solar panel installer. Another perk of utilizing a solar installer is that they can help you optimize your investment by reducing your future costs of repairs and replacements with the help of warranties and giving you information on local incentives you can take advantage of.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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
See all of the solar companies in Santa Teresa
Factors that Affect Solar Panel Costs in Santa Teresa
For many Santa Teresa homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Santa Teresa, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay about $3,930 per kilowatt in Santa Teresa.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Santa Teresa, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Santa Teresa homeowners choose to finance their solar panel systems to offset upfront costs.It’s wise to factor 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 the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Santa Teresa is the company you get to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that provide a range of services at different price points.Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $19,940 | 11.6 years |
| 8 kW | $4.01 | $22,448 | $27,027 | 11.3 years |
| 10 kW | $3.93 | $27,510 | $34,334 | 11.1 years |
| 12 kW | $3.85 | $32,352 | $41,861 | 10.9 years |
| 14 kW | $3.77 | $36,973 | $49,608 | 10.7 years |
| 16 kW | $3.69 | $41,375 | $57,575 | 10.5 years |
| 18 kW | $3.62 | $45,557 | $65,762 | 10.2 years |
| 20 kW | $3.54 | $49,518 | $74,170 | 10.0 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Though reading through a contract can take a lot of time, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: The brand of solar panel you want to install plays a part in which company you should choose, since different companies have different panels.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
- Installation Process: When going solar, it’s important to maintain an open line of communication with your solar panel company. Make sure you understand how the installation process will go and the project timeline.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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
EcoWatch's Santa Teresa, NM Solar Cost FAQs
What is the average cost of installing solar panels in Santa Teresa?
This is a difficult question to answer exactly, because the cost depends on a variety of 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. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Santa Teresa?
You can’t get solar panels for free in Santa Teresa. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
How will solar panels impact my home value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t opt 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 long do solar panels last in Santa Teresa?
On average, the lifespan of solar panels is 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 amount 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.