Solar Panel Cost Guide in Shiprock, NM (2024 Update)
- Shiprock Solar Installation Cost: $15,900
- 25-Year Savings: $20,708
- Payback Period: 12.6 Years
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Average Cost of Solar Panels in Shiprock
Let’s have a look at the average cost of solar panels in Shiprock.
In Shiprock, solar panels cost about 4 per watt on average.The average solar panel system size in Shiprock is around 5.8 kilowatts, meaning a cost of about $15,900 for a solar installation, or $22,737 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy consumption, the type of solar panels you want, your solar contractor and more.Many homeowners find going solar is a rewarding investment. The average homeowner in Shiprock can save about $21,000 on their energy bills over 20 years.
Click the button below to get connected to a reputable solar company in your area for a customized quote.
Solar savings over time in Shiprock
| Year | Return on Investment |
|---|---|
| 1 years | $-14,849 |
| 3 years | $-12,748 |
| 5 years | $-10,647 |
| 7 years | $-8,546 |
| 9 years | $-6,445 |
| 11 years | $-4,344 |
| 13 years | $-2,242 |
| 15 years | $-141 |
| 17 years | $1,960 |
| 19 years | $4,061 |
| 21 years | $6,162 |
| 23 years | $8,263 |
| 25 years | $10,365 |
Top Solar Installers in Shiprock
Trying to put up solar panels yourself can be a challenging undertaking, which is why hiring a solar installer is a good option for many homeowners. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance over time.
If you’d like to make the switch to solar but still aren’t certain which solar system installer to go with, here are our recommendations for providers nearby:
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 Shiprock
Factors that Affect Solar Panel Costs in Shiprock
The cost of installing a solar system in Shiprock can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,930. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Shiprock average.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a popular route because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Shiprock is the company you choose to install your solar system. Similar to choosing a company to build a deck or pool, for instance, there’s no shortage of solar installers that offer a range of services for different budgets.Additionally, some companies in Shiprock 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 | $15,586 | 13.1 years |
| 8 kW | $4.01 | $22,448 | $21,222 | 12.9 years |
| 10 kW | $3.93 | $27,510 | $27,078 | 12.6 years |
| 12 kW | $3.85 | $32,352 | $33,154 | 12.3 years |
| 14 kW | $3.77 | $36,973 | $39,449 | 12.1 years |
| 16 kW | $3.69 | $41,375 | $45,965 | 11.8 years |
| 18 kW | $3.62 | $45,557 | $52,701 | 11.6 years |
| 20 kW | $3.54 | $49,518 | $59,657 | 11.3 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose significantly influences 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:
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely provide high-quality solar panel installation and expertise.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, completion timeline rebates 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 Shiprock, NM Solar Cost FAQs
How much does it cost to install solar panels in Shiprock?
The average cost of solar panels in Shiprock 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 stuff like the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Shiprock?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of 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.
Do solar panels increase your property value?
Solar panels can increase the value of your home significantly 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 a solar system."
How long do solar panels last in Shiprock?
On average, the lifespan of solar panels is 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 larger 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.