Solar Panel Cost Guide in Shiprock, NM (2025 Update)
- Shiprock Solar Installation Cost: $15,900
- 25-Year Savings: $20,708
- Payback Period: 12.6 Years
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Average Cost of Solar Panels in Shiprock
Let’s have a look at the average cost of solar panels in Shiprock.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Shiprock, the typical cost of solar panels is 4 per watt.The average solar panel system size in Shiprock is around 5.8 kilowatts, meaning a cost of about $15,900 for a solar installation, or $22,737 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Shiprock homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find going solar is a solid investment. The average homeowner in Shiprock can save around $21,000 on their electricity bills over 20 years.
Click the button below to get connected to a top solar installer in your area for a customized quote.
Solar savings over time in Shiprock
| Year | Return on Investment |
|---|---|
| 1 years | $-14,849 |
| 3 years | $-12,748 |
| 5 years | $-10,647 |
| 7 years | $-8,546 |
| 9 years | $-6,445 |
| 11 years | $-4,344 |
| 13 years | $-2,242 |
| 15 years | $-141 |
| 17 years | $1,960 |
| 19 years | $4,061 |
| 21 years | $6,162 |
| 23 years | $8,263 |
| 25 years | $10,365 |
Top Solar Installers in Shiprock
Many homeowners choose to hire a solar installer since trying to install solar panels on your own can be challenging. Another good thing about choosing a vetted solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.
Working with a professional solar company can make going solar easier. Here are our recommendations:
See all of the solar companies in Shiprock
Factors that Affect Solar Panel Costs in Shiprock
For many Shiprock homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Shiprock, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,930.There are a lot of different solar panel brands and the one you choose also affects the cost. Usually, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Shiprock to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest.Though solar loans make adopting solar energy more accessible for Shiprock homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Shiprock is the company you hire to install your PV system. As with choosing a company to install new cabinets, for instance, there are plenty 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 extra 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 | $15,586 | 13.1 years |
| 8 kW | $4.01 | $22,448 | $21,222 | 12.9 years |
| 10 kW | $3.93 | $27,510 | $27,078 | 12.6 years |
| 12 kW | $3.85 | $32,352 | $33,154 | 12.3 years |
| 14 kW | $3.77 | $36,973 | $39,449 | 12.1 years |
| 16 kW | $3.69 | $41,375 | $45,965 | 11.8 years |
| 18 kW | $3.62 | $45,557 | $52,701 | 11.6 years |
| 20 kW | $3.54 | $49,518 | $59,657 | 11.3 years |
How to Save on Solar Panels
There are numerous companies available in Shiprock, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases offer quality solar panel installation and expertise.
- Solar Panel Brands: The model of solar panel you’d like to install plays a part in which installer you should go with, since different companies have access to different panels.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
- Contract: It’s important to read your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
EcoWatch's Shiprock, NM Solar Cost FAQs
What is the average cost of installing solar panels in Shiprock?
The average cost of solar panels in Shiprock is about $19,650 for a 5-kW system and $39,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Shiprock?
Leasing solar panels can be an option if you can’t 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 home 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 financial benefits from going solar.
Do solar panels increase your property value?
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 solar panels."
How often do you have to replace solar panels?
On average, solar panels can last 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 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.