Solar Panel Cost Guide in Rio Communities, NM (2024 Update)

  • Rio Communities Solar Installation Cost: $15,284
  • 25-Year Savings: $29,790
  • Payback Period: 9.5 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 Rio Communities

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

Currently, the national average cost of solar panels is $2.66 per watt. However, in Rio Communities, the average cost of solar panels is 4 per watt.Because a 5.6-kW system is needed to cover the energy usage of a typical home in Rio Communities, the average price of going solar will be about $15,284 after claiming the federal solar tax credit of 0.

Keep in mind that the figures above are only estimates based on the average energy use of Rio Communities 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.But, after you've paid the initial cost of installation, the savings for most homeowners is usually good, with a net average savings of about $28,000 over 20 years on energy bills.

You can click the button below to get connected with a pre-vetted solar company in Rio Communities that can help you get a more accurate cost estimate for your home.

Solar savings over time in Rio Communities

Year Return on Investment
1 years $-14,195
3 years $-12,018
5 years $-9,841
7 years $-7,664
9 years $-5,486
11 years $-3,309
13 years $-1,132
15 years $1,045
17 years $3,223
19 years $5,400
21 years $7,577
23 years $9,754
25 years $11,932

Top Solar Installers in Rio Communities

When switching to solar energy, many homeowners choose to hire a solar company since DIY solar panel installation can be a difficult project. Plus, if you aren’t sure what brand of solar panels and equipment you need, a solar expert can help you find the right equipment for you after a site survey and consultation.

If you're searching for a solar company in Rio Communities, we've put together a list of our top suggestions here:

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 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

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • 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 Rio Communities

Factors that Affect Solar Panel Costs in Rio Communities

For many Rio Communities homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Rio Communities, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you’ll pay, which we'll go over below.

Solar Equipment

The size of the solar 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, you can expect your total to increase by about $3,930. There are many different solar panel brands and the one you choose also affects the cost. In general, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you’re looking to get 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

If paying for solar panels out of pocket is out of reach, solar loans are a popular route because they decrease your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also adds to your total costs, so it’s important to take that into consideration 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

The solar installer you choose to handle your switch to clean energy can play a part in your total costs. There are about 3 solar panel companies in Rio Communities, and each can charge varying amounts for labor and equipment.Additionally, some companies in Rio Communities have more knowledge about local solar incentives and can help you learn about 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 $26,262 9.9 years
8 kW $4.01 $22,448 $35,456 9.7 years
10 kW $3.93 $27,510 $44,870 9.5 years
12 kW $3.85 $32,352 $54,504 9.3 years
14 kW $3.77 $36,973 $64,358 9.1 years
16 kW $3.69 $41,375 $74,433 8.9 years
18 kW $3.62 $45,557 $84,727 8.7 years
20 kW $3.54 $49,518 $95,242 8.6 years

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:

  • Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
  • Solar Panel Brands: The kind of solar panel you’d like to get plays a part in which installer you should opt for, since different companies offer different panels.
  • Installation Process: Make sure you’re aligned with the company in regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
  • Reputation: Long-running 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 quality aftercare and customer service, such as part repairs and replacements.

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 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

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Rio Communities, NM Solar Cost FAQs

How much does it cost to install solar panels in Rio Communities?

The average cost of solar panels in Rio Communities is about $19,650 for a 5-kW system and $39,300 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.

Can you get solar panels for free in Rio Communities?

Solar panels aren’t free in Rio Communities, 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 can help lower the cost.

Does Rio Communities 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 many solar panels do I need to power my home?

The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.

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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