Solar Panel Cost Guide in Chaparral, NM (2024 Update)
- Chaparral Solar Installation Cost: $15,001
- 25-Year Savings: $33,063
- Payback Period: 8.7 Years
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Average Cost of Solar Panels in Chaparral
Find out what the average cost of solar panel installation is in Chaparral.
The national average cost of solar panels is $2.66 per watt, but in Chaparral it’s 4 per watt.The average solar panel system size in Chaparral is around 5.5 kilowatts, meaning a cost of about $15,001 for a solar installation, or $21,451 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Chaparral homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find installing solar panels is a sound investment. The average homeowner in Chaparral can save about $30,000 on their power bills over 20 years.
To receive a free estimate from a top solar company in Chaparral, you can click the button below.
Solar savings over time in Chaparral
| Year | Return on Investment |
|---|---|
| 1 years | $-14,174 |
| 3 years | $-12,521 |
| 5 years | $-10,868 |
| 7 years | $-9,215 |
| 9 years | $-7,562 |
| 11 years | $-5,909 |
| 13 years | $-4,256 |
| 15 years | $-2,603 |
| 17 years | $-950 |
| 19 years | $703 |
| 21 years | $2,356 |
| 23 years | $4,009 |
| 25 years | $5,662 |
Top Solar Installers in Chaparral
When making the switch to solar, many homeowners decide to use a solar installer since installing solar panels yourself can be a challenging project. Plus, warranties and repairs from your solar panel installer can protect your investment and lower the cost of maintenance over time.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
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 Chaparral
Factors that Affect Solar Panel Costs in Chaparral
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few primary factors that will push your cost above or below the average in Chaparral: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $3,930 per kilowatt in Chaparral.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your power bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Chaparral average.
Solar Financing Terms
Most solar companies in Chaparral offer solar loans, which reduce the initial cost of installing solar.When estimating your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can affect how much it costs. Chaparral’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $30,471 | 9.0 years |
| 8 kW | $4.01 | $22,448 | $41,068 | 8.8 years |
| 10 kW | $3.93 | $27,510 | $51,885 | 8.7 years |
| 12 kW | $3.85 | $32,352 | $62,923 | 8.5 years |
| 14 kW | $3.77 | $36,973 | $74,180 | 8.3 years |
| 16 kW | $3.69 | $41,375 | $85,657 | 8.1 years |
| 18 kW | $3.62 | $45,557 | $97,355 | 8.0 years |
| 20 kW | $3.54 | $49,518 | $109,273 | 7.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- 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 the installation process.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases provide good-quality solar panel installation and expertise.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
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 Chaparral, NM Solar Cost FAQs
What is the average cost of installing solar panels in Chaparral?
This is a tough question to answer exactly, 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 higher-than-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Chaparral?
Leasing solar panels can be an option if you can’t afford to pay upfront or get 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.
Is it worth going solar in Chaparral?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.