Solar Panel Cost Guide in Vado, NM (2023 Update)
- Vado Solar Installation Cost: $10,112
- 25-Year Savings: $23,187
- Payback Period: 7.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Vado
Find out how much it might cost to switch to solar power in Vado.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Vado, the average cost of a solar system is 2.68 per watt. Using this figure, a typical 5.4-kW system would cost about $10,112 before the 30% federal solar tax credit is applied.
How much you pay can go higher or lower than the average in Vado depending on a few factors, such as the brand of solar panels you choose and the solar contractor you hire. For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Vado see about $23,000 in savings on utility bills over 20 years.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Vado
| Year | Return on Investment |
|---|---|
| 1 years | $-8,780 |
| 3 years | $-6,116 |
| 5 years | $-3,452 |
| 7 years | $-788 |
| 9 years | $1,876 |
| 11 years | $4,540 |
| 13 years | $7,204 |
| 15 years | $9,867 |
| 17 years | $12,531 |
| 19 years | $15,195 |
| 21 years | $17,859 |
| 23 years | $20,523 |
| 25 years | $23,187 |
Top Solar Installers in Vado
Many homeowners opt for a solar panel company since figuring out how to install solar panels on your own can be a lot of work. Also, companies with a good reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
Working with a professional solar company can make going solar easier. Here are our recommendations:
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 Vado
Factors that Affect Solar Panel Costs in Vado
For many Vado homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Vado, with typical prices between $20,000 to $40,000. There are a number of factors that significantly 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 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 pay around $2,680 per kilowatt in Vado. There are a lot of different solar panel brands and the one you pick also changes the cost. In general, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Vado have solar loans, which reduce your upfront costs of installing a solar system. 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 reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can affect how much you pay. Vado's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $25,390 | 7.9 years |
| 8 kW | $2.73 | $15,308 | $34,154 | 7.7 years |
| 10 kW | $2.68 | $18,760 | $43,067 | 7.6 years |
| 12 kW | $2.63 | $22,062 | $52,131 | 7.4 years |
| 14 kW | $2.57 | $25,213 | $61,345 | 7.3 years |
| 16 kW | $2.52 | $28,215 | $70,709 | 7.1 years |
| 18 kW | $2.47 | $31,067 | $80,223 | 7.0 years |
| 20 kW | $2.41 | $33,768 | $89,887 | 6.8 years |
How to Save on Solar Panels
The solar company you opt for will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, including:
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
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 Vado, NM Solar Cost FAQs
What is the average cost of installing solar panels in Vado?
The average cost of solar panels in Vado is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the actual cost will depend on things 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 Vado?
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 bang for your buck from going solar.
How much can I save on power bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Vado, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.