Solar Panel Cost Guide in Shiprock, NM (Mar 2023)
- Shiprock Solar Installation Cost: $10,843
- 25-Year Savings: $20,707
- Payback Period: 8.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Shiprock
Let's have a look at the average cost of solar in Shiprock.
In Shiprock, solar panels cost about 2.68 per watt on average. Using this figure, a typical 5.8-kW system would cost about $10,843 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Shiprock homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. For most homeowners, the upfront cost of solar is worth paying. On average homeowners in Shiprock see about $21,000 in savings on electricity bills over 20 years.
For a free 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 | $-9,581 |
| 3 years | $-7,057 |
| 5 years | $-4,533 |
| 7 years | $-2,009 |
| 9 years | $515 |
| 11 years | $3,039 |
| 13 years | $5,563 |
| 15 years | $8,087 |
| 17 years | $10,611 |
| 19 years | $13,135 |
| 21 years | $15,659 |
| 23 years | $18,183 |
| 25 years | $20,707 |
Top Solar Installers in Shiprock
Although it's possible to install solar panels yourself, it involves extra effort and handiness. For that reason, almost all homeowners choose a solar panel installer. Companies can also have access to quality options of the best solar panels and help you decide which one will be best for your home.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
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 Shiprock
Factors that Affect Solar Panel Costs in Shiprock
The cost of installing a solar system in Shiprock can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most significant 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 electricity your household uses, the larger your system will likely need to be. You can expect to spend about $2,680 per kilowatt in Shiprock. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Shiprock homeowners decide to finance their solar panel systems to offset upfront costs. It's a good idea to add 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 how long it'll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Shiprock is the company you get to install your PV system. Similar to choosing a company to renovate your kitchen, for example, you'll have no shortage of solar installers that provide a range of services at different costs. Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $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
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Installation Process: Make sure you're aligned with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
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 Shiprock, NM Solar Cost FAQs
What is the average cost of installing solar panels in Shiprock?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $13,400 for a 5-kW system and $26,800 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Shiprock?
Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future energy 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 Shiprock?
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.