Solar Panel Cost Guide in Santa Teresa, NM (2024 Update)

  • Santa Teresa Solar Installation Cost: $14,812
  • 25-Year Savings: $23,198
  • Payback Period: 11.1 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 Santa Teresa

Here’s how much it might cost to switch to solar power in Santa Teresa.

The national average cost of solar panels is $2.66 per watt, but in Santa Teresa it’s 4 per watt.Because a 5.4-kW system is needed to cover the energy consumption of a typical home in Santa Teresa, the average price of going solar will be about $14,812 after claiming the federal solar tax credit of 0.

These figures are only estimates, and your own solar costs will vary based on your specific situation and what company you go with.Many homeowners find installing solar panels is a sound investment. The average homeowner in Santa Teresa can save about $24,000 on their power bills over 20 years.

For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Santa Teresa

Year Return on Investment
1 years $-13,986
3 years $-12,332
5 years $-10,679
7 years $-9,026
9 years $-7,373
11 years $-5,720
13 years $-4,067
15 years $-2,414
17 years $-761
19 years $892
21 years $2,545
23 years $4,198
25 years $5,851

Top Solar Installers in Santa Teresa

DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Going with a solar panel installer can make switching to solar power much easier. The payback period of solar panels will vary depending on factors like your roof configuration and energy needs, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you apply for incentives available in your area.

If you're looking for a solar company in Santa Teresa, 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 Santa Teresa

Factors that Affect Solar Panel Costs in Santa Teresa

For many Santa Teresa homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Santa Teresa, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.

Solar Equipment

When it comes to estimating the price of a solar energy system in Santa Teresa, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your total cost can increase by about $3,930 for each additional kilowatt you need.The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are provided by most installers in Santa Teresa, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable.Even though solar loans make adopting solar energy more accessible for Santa Teresa homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

A final factor to consider when trying to figure out the cost of solar for your home or business in Santa Teresa is the company you get to install your solar system. As with choosing a company to install new cabinets, for instance, you’ll have many options for solar installers that provide a range of services for different budgets.The company’s size can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.

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 $19,940 11.6 years
8 kW $4.01 $22,448 $27,027 11.3 years
10 kW $3.93 $27,510 $34,334 11.1 years
12 kW $3.85 $32,352 $41,861 10.9 years
14 kW $3.77 $36,973 $49,608 10.7 years
16 kW $3.69 $41,375 $57,575 10.5 years
18 kW $3.62 $45,557 $65,762 10.2 years
20 kW $3.54 $49,518 $74,170 10.0 years

How to Save on Solar Panels

The solar installer you choose will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, such as:

  • Contract: Before signing a contract with a solar company, be sure to read it through fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
  • Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
  • Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
  • Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.

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 Santa Teresa, NM Solar Cost FAQs

What is the average cost of installing solar panels in Santa Teresa?

The average cost of solar panels in Santa Teresa 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 certain factors such as 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 Santa Teresa?

You can’t get solar panels for free in Santa Teresa. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.

How will solar panels impact the value of my home?

Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."

How long do solar panels last in Santa Teresa?

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 their energy production will have decreased significantly after that point. You can opt 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.

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