Solar Panel Cost Guide in South Valley, NM (2024 Update)

  • South Valley Solar Installation Cost: $15,361
  • 25-Year Savings: $26,991
  • Payback Period: 10.2 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

Why you can trust EcoWatch

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 South Valley

We break down average solar pricing in South Valley.

Currently, the national average cost of solar panels is $2.66 per watt. However, in South Valley, the average cost of a solar system is 4 per watt.The average solar panel system size in South Valley 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 only averages, and the cost of going solar for you will look different based on your energy needs and what company you want to go with.But, once you've paid the upfront cost of installation, the ROI for most homeowners is quite fruitful, with a net average savings of about $25,000 over 20 years on electricity bills.

To calculate your potential savings and connect with a local solar installer, click the button below.

Solar savings over time in South Valley

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 South Valley

Installing solar panels yourself can be a dangerous task, which is why getting a solar installer is a good option for many homeowners. The expertise that solar installers offer can be useful as well, particularly if you don’t quite know what type of solar equipment would be right for your home.

There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:

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 South Valley

Factors that Affect Solar Panel Costs in South Valley

For many South Valley homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in South Valley, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.

Solar Equipment

One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $3,930 per kilowatt in South Valley.The kind of solar equipment you choose can bring your price up or down 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, more efficient panels could save you more over time on your electric bills. In addition, add-on products, such as solar batteries, can bring your total well above the South Valley average.

Solar Financing Terms

If paying for a solar system out of pocket is out of reach, solar loans are an affordable route because they reduce your upfront costs and let you pay for your system over five to seven years on average.However, the interest on solar loans also adds to your all-in costs, so it’s vital to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.

Solar Panel Installation Company

Lastly, the company you hire to install your solar system can affect the cost. South Valley’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.

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 $23,093 10.7 years
8 kW $4.01 $22,448 $31,231 10.5 years
10 kW $3.93 $27,510 $39,589 10.2 years
12 kW $3.85 $32,352 $48,167 10.0 years
14 kW $3.77 $36,973 $56,965 9.8 years
16 kW $3.69 $41,375 $65,983 9.6 years
18 kW $3.62 $45,557 $75,221 9.4 years
20 kW $3.54 $49,518 $84,679 9.2 years

How to Save on Solar Panels

The solar company you go with will affect not only your overall 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 keep in mind, such as:

  • Solar Panel Brands: Different companies will carry different brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
  • Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • 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 aren’t sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
  • Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.

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 South Valley, NM Solar Cost FAQs

How much does it cost to install solar panels in South Valley?

This is a difficult question to answer precisely, because the cost depends on a variety of 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.

Should I lease or buy solar panels in South Valley?

Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.

Can solar panels eliminate my power bills?

It is possible to eradicate your electricity bills with solar panels, but for most homeowners in South Valley, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.

How many solar panels do I need to power my home?

To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.

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.

Follow us