Solar Panel Cost Guide in Paradise Hills, NM (2024 Update)
- Paradise Hills Solar Installation Cost: $15,361
- 25-Year Savings: $25,395
- Payback Period: 10.7 Years
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Average Cost of Solar Panels in Paradise Hills
Find out what the average cost of solar panels are in Paradise Hills.
The average cost of a solar panel system in Paradise Hills is 4 per watt.The average solar panel system size in Paradise Hills is around 5.6 kilowatts, meaning a cost of about $15,361 for a solar installation, or $21,966 before the 0 federal solar tax credit is applied.
These figures are just averages, and the cost of going solar for you will most likely look different based on the amount of energy your home requires and what company you choose to go with.For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $24,000 in savings on energy bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Paradise Hills
| Year | Return on Investment |
|---|---|
| 1 years | $-14,272 |
| 3 years | $-12,095 |
| 5 years | $-9,918 |
| 7 years | $-7,740 |
| 9 years | $-5,563 |
| 11 years | $-3,386 |
| 13 years | $-1,209 |
| 15 years | $969 |
| 17 years | $3,146 |
| 19 years | $5,323 |
| 21 years | $7,500 |
| 23 years | $9,677 |
| 25 years | $11,855 |
Top Solar Installers in Paradise Hills
Although you can install solar panels yourself, it involves extra energy and expertise. Because of that, the majority of homeowners choose a solar panel installer. The expertise that solar installers offer can be invaluable as well, especially if you don’t quite know what kind of solar equipment you need.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Paradise Hills
Factors that Affect Solar Panel Costs in Paradise Hills
There are a number of factors that can affect your solar system 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
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,930.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a popular route because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years.Though solar loans make going solar more accessible for Paradise Hills homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you get to install your solar system can play a part in determining your pricing. Paradise Hills’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Paradise Hills have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $21,378 | 11.1 years |
| 8 kW | $4.01 | $22,448 | $28,944 | 10.9 years |
| 10 kW | $3.93 | $27,510 | $36,731 | 10.7 years |
| 12 kW | $3.85 | $32,352 | $44,737 | 10.5 years |
| 14 kW | $3.77 | $36,973 | $52,964 | 10.3 years |
| 16 kW | $3.69 | $41,375 | $61,410 | 10.1 years |
| 18 kW | $3.62 | $45,557 | $70,077 | 9.8 years |
| 20 kW | $3.54 | $49,518 | $78,963 | 9.6 years |
How to Save on Solar Panels
The solar installer you go with will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, such as:
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a quality company.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: Read the contract terms carefully to make sure you understand the total cost, completion timeline incentives and warranties.
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 Paradise Hills, NM Solar Cost FAQs
What is the average cost of installing solar panels in Paradise Hills?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $19,650 for a 5-kW system and $39,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Paradise Hills?
Leasing solar panels can be an option if you are unable 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 property 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 financial benefits from going solar.
Does Paradise Hills have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had 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.