Solar Panel Cost Guide in Shiprock, NM (2023 Update)
- Shiprock Solar Installation Cost: $10,843
- 25-Year Savings: $20,708
- Payback Period: 8.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Shiprock
We go over average solar pricing in Shiprock.
The national average cost of solar panels is $2.66 per watt, but in Shiprock it's 2.68 per watt. To account for the typical energy needs of the average home in Shiprock, most homeowners require a 5.8-kilowatt system. Using the per-watt figure above, a solar installation costs about $10,843, or $15,505 before the federal solar tax credit of 30% is applied.
These figures are only estimates, and the cost of going solar for you will most likely vary based on the amount of energy your home requires and what company you want to go with. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $21,000 over 20 years on energy bills.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Shiprock
| Year | Return on Investment |
|---|---|
| 1 years | $-9,792 |
| 3 years | $-7,691 |
| 5 years | $-5,590 |
| 7 years | $-3,489 |
| 9 years | $-1,387 |
| 11 years | $714 |
| 13 years | $2,815 |
| 15 years | $4,916 |
| 17 years | $7,017 |
| 19 years | $9,118 |
| 21 years | $11,220 |
| 23 years | $13,321 |
| 25 years | $15,422 |
Top Solar Installers in Shiprock
Trying to install solar panels yourself can be a stressful project, which is why getting a solar installation company is a good option for many homeowners. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and system component replacements.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
See all of the solar companies in Shiprock
Factors that Affect Solar Panel Costs in Shiprock
There are a number of factors that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $2,680 per kilowatt in Shiprock. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Shiprock, where sunlight is abundant, efficiency can quickly pay off. Also, 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
If paying for a solar system in cash is too expensive, solar loans are an affordable option because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years. 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
Lastly, the company you opt for to install your solar panel system can influence how much it costs. Shiprock's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and choose a company that has the products, warranties and services you're looking for and also is 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 | $21,046 | 8.9 years |
| 8 kW | $2.73 | $15,308 | $28,362 | 8.8 years |
| 10 kW | $2.68 | $18,760 | $35,828 | 8.6 years |
| 12 kW | $2.63 | $22,062 | $43,444 | 8.4 years |
| 14 kW | $2.57 | $25,213 | $51,209 | 8.2 years |
| 16 kW | $2.52 | $28,215 | $59,125 | 8.1 years |
| 18 kW | $2.47 | $31,067 | $67,191 | 7.9 years |
| 20 kW | $2.41 | $33,768 | $75,407 | 7.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- 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 you can expect about the cost.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
- Installation Process: Make sure you're on the same page with the company in regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- Reputation: Make sure your solar 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 EcoWatch.
EcoWatch's Shiprock, NM Solar Cost FAQs
How much does it cost to install solar panels in Shiprock?
The average cost of solar panels in Shiprock is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Do solar panels increase how much your home is worth?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
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 larger 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.