Solar Panel Cost Guide in White Rock, NM (2023 Update)
- White Rock Solar Installation Cost: $10,787
- 25-Year Savings: $26,206
- Payback Period: 7.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in White Rock
Let's have a look at the average cost of solar panels in White Rock.
In White Rock, solar panels cost about 2.68 per watt on average. The average White Rock homeowner needs a 5.8-kilowatt system, which would cost about $10,787 with the federal tax credit, or $15,425 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of White Rock homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. For most homeowners, the upfront investment in solar panels is worth paying. On average White Rock homeowners see about $24,000 in savings on utility 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 White Rock
| Year | Return on Investment |
|---|---|
| 1 years | $-9,307 |
| 3 years | $-6,348 |
| 5 years | $-3,388 |
| 7 years | $-429 |
| 9 years | $2,530 |
| 11 years | $5,490 |
| 13 years | $8,449 |
| 15 years | $11,409 |
| 17 years | $14,368 |
| 19 years | $17,328 |
| 21 years | $20,287 |
| 23 years | $23,247 |
| 25 years | $26,206 |
Top Solar Installers in White Rock
When making the switch to solar, many homeowners choose to hire a solar company since overseeing your solar installation yourself can be a difficult project. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and part replacements.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
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 White Rock
Factors that Affect Solar Panel Costs in White Rock
There are several factors that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. The type of solar panels and equipment you choose is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in White Rock to be too steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to paying more over time due to interest. However, the interest on solar loans also increases your total costs, so it's vital to keep that in mind as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you opt for to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies operating in White Rock, and each can charge different amounts for labor and equipment. Companies that only sell high-efficiency and high-priced products — 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 go with the company that offers the products, warranties and services you're looking for 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 | $26,923 | 7.6 years |
| 8 kW | $2.73 | $15,308 | $36,198 | 7.4 years |
| 10 kW | $2.68 | $18,760 | $45,622 | 7.3 years |
| 12 kW | $2.63 | $22,062 | $55,197 | 7.1 years |
| 14 kW | $2.57 | $25,213 | $64,922 | 7.0 years |
| 16 kW | $2.52 | $28,215 | $74,796 | 6.8 years |
| 18 kW | $2.47 | $31,067 | $84,821 | 6.7 years |
| 20 kW | $2.41 | $33,768 | $94,996 | 6.6 years |
How to Save on Solar Panels
There are a large number of companies to choose from in White Rock, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before making your decision.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases provide high-quality solar panel installation and expertise.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's White Rock, NM Solar Cost FAQs
How much does it cost to install solar panels in White Rock?
The average cost of solar panels in White Rock 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 such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in White Rock?
Solar panels aren't free in White Rock, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,287.64 per year.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.