Solar Panel Cost Guide in Taos, NM (2023 Update)
- Taos Solar Installation Cost: $11,143
- 25-Year Savings: $36,161
- Payback Period: 5.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Taos
Let's have a look at the average cost of solar panels in Taos.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Taos, the average cost of a solar system is 2.68 per watt. The average Taos homeowner needs a 5.9-kilowatt system, which would cost about $11,143 with the federal tax credit, or $15,934 before the 30% tax credit is applied.
These figures are only averages, and how much solar costs for you will vary based on your energy needs and what company you go with. Many homeowners find adopting solar power is a solid investment. The average homeowner in Taos can save about $30,000 on their energy bills over 20 years.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Taos
| Year | Return on Investment |
|---|---|
| 1 years | $-9,251 |
| 3 years | $-5,467 |
| 5 years | $-1,683 |
| 7 years | $2,102 |
| 9 years | $5,886 |
| 11 years | $9,670 |
| 13 years | $13,455 |
| 15 years | $17,239 |
| 17 years | $21,023 |
| 19 years | $24,808 |
| 21 years | $28,592 |
| 23 years | $32,376 |
| 25 years | $36,161 |
Top Solar Installers in Taos
Although it's possible to install solar panels by yourself, it involves extra effort and handiness. For that reason, the majority of homeowners choose to go with a solar panel installer. Companies can also have access to quality options of the best solar panels and help you choose which one will be right for your family.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Taos
Factors that Affect Solar Panel Costs in Taos
There are several factors that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your power bills. In addition, add-on products, like solar batteries, can bring your total well above the Taos average.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a solid route because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar installation company you choose will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and choose a company that provides the products, warranties and services you want and also fits 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 | $36,049 | 6.1 years |
| 8 kW | $2.73 | $15,308 | $48,365 | 6.0 years |
| 10 kW | $2.68 | $18,760 | $60,831 | 5.9 years |
| 12 kW | $2.63 | $22,062 | $73,448 | 5.8 years |
| 14 kW | $2.57 | $25,213 | $86,215 | 5.7 years |
| 16 kW | $2.52 | $28,215 | $99,131 | 5.5 years |
| 18 kW | $2.47 | $31,067 | $112,198 | 5.4 years |
| 20 kW | $2.41 | $33,768 | $125,415 | 5.3 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although 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 make sure you ask for their list of offerings before deciding.
- Contract: Look through the contract terms closely to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Installation Process: Make sure you're on the same page with the installer in 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.
- Reputation: Make sure your solar panel installer 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.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Taos, NM Solar Cost FAQs
What is the average cost of installing solar panels in Taos?
The average cost of solar panels in Taos 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 type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Taos?
Solar panels aren't free in Taos, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Do solar panels increase your home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Taos is currently $268,733, so you can look forward to a value of about $11,018 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Taos is a rewarding investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.