Solar Panel Cost Guide in Artesia, NM (2024 Update)
- Artesia Solar Installation Cost: $14,955
- 25-Year Savings: $27,012
- Payback Period: 10.0 Years
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Average Cost of Solar Panels in Artesia
Let’s have a look at the average cost of solar panels in Artesia.
In Artesia, solar panels cost about 4 per watt on average.Using this figure, a typical 5.4-kW system would cost about $14,955 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Artesia homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $26,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar company in Artesia for a quote for your home.
Solar savings over time in Artesia
| Year | Return on Investment |
|---|---|
| 1 years | $-14,191 |
| 3 years | $-12,663 |
| 5 years | $-11,136 |
| 7 years | $-9,608 |
| 9 years | $-8,080 |
| 11 years | $-6,552 |
| 13 years | $-5,025 |
| 15 years | $-3,497 |
| 17 years | $-1,969 |
| 19 years | $-441 |
| 21 years | $1,086 |
| 23 years | $2,614 |
| 25 years | $4,142 |
Top Solar Installers in Artesia
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Taking advantage of an installer can make swapping over to solar power much easier. Also, companies with a good reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you’d like to make the switch to solar but still aren’t sure which solar company to go with, here are our recommendations for providers near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Artesia
Factors that Affect Solar Panel Costs in Artesia
For many Artesia homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Artesia, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,930. The kind of solar panels and equipment you get is another factor that will largely impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment is more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Most solar installers in Artesia offer solar loans, which reduce your upfront costs of installing a solar system.However, the interest on solar loans also adds to your total costs, so it’s important to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can play a part in determining how much it costs. Artesia’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Artesia know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.09 | $17,166 | $23,903 | 10.4 years |
| 8 kW | $4.01 | $22,448 | $32,311 | 10.2 years |
| 10 kW | $3.93 | $27,510 | $40,939 | 10.0 years |
| 12 kW | $3.85 | $32,352 | $49,787 | 9.8 years |
| 14 kW | $3.77 | $36,973 | $58,855 | 9.6 years |
| 16 kW | $3.69 | $41,375 | $68,143 | 9.4 years |
| 18 kW | $3.62 | $45,557 | $77,651 | 9.2 years |
| 20 kW | $3.54 | $49,518 | $87,380 | 9.0 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 tips to keep in mind to help with your decision:
- Contract: When reading over your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Warranty: If you’re worried about the endurance of your solar system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
- Installation Process: When going solar, it’s necessary to maintain an open line of communication with your solar installer. Make sure you understand how the installation process will go and the project timeline.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Artesia, NM Solar Cost FAQs
How much does it cost to install solar panels in Artesia?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $19,650 for a 5-kW system and $39,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Artesia?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future power bills.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household 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.