Solar Panel Cost Guide in Mexico, NY (2024 Update)

  • Mexico Solar Installation Cost: $11,706
  • 25-Year Savings: $6,746
  • Payback Period: 18.1 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Mexico

Find out what the average cost of solar panel installation is in Mexico.

Although the national average of solar panels is $2.66 per watt, solar panels in Mexico generally cost about 4.Using this figure, a typical 4.6-kW system would cost about $11,706 before the 0 federal solar tax credit is applied.

Bear in mind that the figures above are only estimates based on the average energy use of Mexico 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.Despite the large initial cost, the average Mexico homeowner can save around $13,000 on their electricity bills over 20 years, which is one of the benefits of solar.

You can click the button below to get connected with a top solar installer in Mexico for a quote for your home.

Solar savings over time in Mexico

Year Return on Investment
1 years $-10,797
3 years $-8,980
5 years $-7,163
7 years $-5,346
9 years $-3,529
11 years $-1,712
13 years $106
15 years $1,923
17 years $3,740
19 years $5,557
21 years $7,374
23 years $9,191
25 years $11,008

Top Solar Installers in Mexico

Installing solar panels on your own can be a time-consuming task, which is why hiring a solar installation company is a good option for many homeowners. Solar installers offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.

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 National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Mexico

Factors that Affect Solar Panel Costs in Mexico

Even though the average cost of a solar system in Mexico is $11,706, your actual cost may differ. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.

Solar Equipment

When it comes to estimating the price of solar panels in Mexico, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your total cost can increase by about $3,650 for each additional kilowatt you need.There are many different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far 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 time, but they can also be a big investment. That’s why many Mexico homeowners decide to finance their solar panel systems to make paying for solar more affordable.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay back the loan.

Solar Panel Installation Company

The solar company you go with to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies in Mexico, and each can charge varying amounts for labor and equipment.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 come at a higher cost. It’s best to do some research and find a company that provides the products, warranties and services you’re looking for and also is 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 $3.80 $15,943 $5,281 18.8 years
8 kW $3.72 $20,849 $7,450 18.4 years
10 kW $3.65 $25,550 $9,824 18.1 years
12 kW $3.58 $30,047 $12,402 17.7 years
14 kW $3.50 $34,339 $15,185 17.3 years
16 kW $3.43 $38,427 $18,171 17.0 years
18 kW $3.36 $42,311 $21,363 16.6 years
20 kW $3.29 $45,990 $24,758 16.3 years

How to Save on Solar Panels

Since the model of solar panels and the installer you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:

  • Warranty: If you care about the longevity of your solar energy system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Contract: Read the contract terms carefully to make sure you understand the total cost, completion timeline incentives and warranties.
  • Solar Panel Brands: The type of solar panel you want to install plays a part in which company you should go with, since different companies have different panels.
  • Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Mexico, NY Solar Cost FAQs

How much does it cost to install solar panels in Mexico?

This is a tough question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

Is cost the most important consideration when buying solar panels?

Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Do solar panels increase how much your home is worth?

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 Mexico is currently $199,049, which means you can expect a value of about $8,161 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Mexico is a worthwhile investment.

How often do you have to replace solar panels?

Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having 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.

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