Solar Panel Cost Guide in South Valley, NM (Mar 2023)
- South Valley Solar Installation Cost: $10,468
- 25-Year Savings: $26,998
- Payback Period: 7.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in South Valley
Find out how much it might cost to install solar panels in South Valley.
In South Valley, solar panels cost about 2.68 per watt on average. Using this figure, a typical 5.6-kW system would cost about $10,468 before the 30% federal solar tax credit is applied.
The actual price you pay can go higher or lower than the average in South Valley based on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire. Many homeowners find adopting solar power is a sound investment. The average homeowner in South Valley can save about $25,000 on their power bills over 20 years.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in South Valley
| Year | Return on Investment |
|---|---|
| 1 years | $-8,969 |
| 3 years | $-5,972 |
| 5 years | $-2,975 |
| 7 years | $22 |
| 9 years | $3,020 |
| 11 years | $6,017 |
| 13 years | $9,014 |
| 15 years | $12,012 |
| 17 years | $15,009 |
| 19 years | $18,006 |
| 21 years | $21,003 |
| 23 years | $24,001 |
| 25 years | $26,998 |
Top Solar Installers in South Valley
When going solar, many homeowners opt to go with a solar installation company since overseeing your solar installation yourself can be a challenging project. Companies can also provide access to various kinds of the best solar panels and help you pick which one will be right for your family.
You can get a free estimate from a local solar installer on how much your investment in solar 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 South Valley
Factors that Affect Solar Panel Costs in South Valley
For many South Valley homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in South Valley, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $2,680 per kilowatt in South Valley. There are a lot of different solar panel brands and the one you choose also affects the cost. Usually, the brands that are more efficient tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That's why many South Valley homeowners opt to finance their solar panel systems to make going solar more affordable. When estimating your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can influence how much it costs. South Valley's solar companies all have different labor costs and add varying upcharges to equipment. The company's size sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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 | $28,553 | 7.3 years |
| 8 kW | $2.73 | $15,308 | $38,371 | 7.1 years |
| 10 kW | $2.68 | $18,760 | $48,339 | 7.0 years |
| 12 kW | $2.63 | $22,062 | $58,457 | 6.8 years |
| 14 kW | $2.57 | $25,213 | $68,725 | 6.7 years |
| 16 kW | $2.52 | $28,215 | $79,143 | 6.6 years |
| 18 kW | $2.47 | $31,067 | $89,711 | 6.4 years |
| 20 kW | $2.41 | $33,768 | $100,429 | 6.3 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose considerably influences your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
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 South Valley, NM Solar Cost FAQs
How much does it cost to install solar panels in South Valley?
The average cost of solar panels in South Valley 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 certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.