Solar Panel Cost Guide in Truth or Consequences, NM (2024 Update)
- Truth or Consequences Solar Installation Cost: $14,844
- 25-Year Savings: $35,710
- Payback Period: 8.1 Years
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Average Cost of Solar Panels in Truth or Consequences
Find out what the average cost of a solar system is in Truth or Consequences.
The national average cost of solar panels is $2.66 per watt, but in Truth or Consequences it’s 4 per watt.Using this figure, a typical 5.4-kW system would cost about $14,844 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of going solar can vary quite a bit based on a few factors, such as what size system you need, your energy consumption and what solar installer you go with.For many homeowners, the upfront cost of solar panels is worth paying. On average Truth or Consequences homeowners see about $32,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a top solar company in Truth or Consequences for a quote for your home.
Solar savings over time in Truth or Consequences
| Year | Return on Investment |
|---|---|
| 1 years | $-14,018 |
| 3 years | $-12,365 |
| 5 years | $-10,712 |
| 7 years | $-9,059 |
| 9 years | $-7,406 |
| 11 years | $-5,752 |
| 13 years | $-4,099 |
| 15 years | $-2,446 |
| 17 years | $-793 |
| 19 years | $860 |
| 21 years | $2,513 |
| 23 years | $4,166 |
| 25 years | $5,819 |
Top Solar Installers in Truth or Consequences
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Hiring a solar panel installer can make converting to solar power much easier. Solar installers provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
If you’d like to switch to solar energy but still aren’t sure which solar installer to go with, here are our suggestions 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 Truth or Consequences
Factors that Affect Solar Panel Costs in Truth or Consequences
For many Truth or Consequences homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Truth or Consequences, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important 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 power your household consumes, the larger your system will likely need to be. You can expect to spend around $3,930 per kilowatt in Truth or Consequences.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Truth or Consequences, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a popular route because they decrease your upfront costs and let you pay for your system over five to seven years on average.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The final key cost factor you should consider is the installer you choose. Given the massive popularity of renewable energy solutions in Truth or Consequences, you’ll have many options to choose from, but each comes at different price points for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and find a company that has the products, warranties and services you want and also fit into your budget.
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 | $33,798 | 8.4 years |
| 8 kW | $4.01 | $22,448 | $45,503 | 8.3 years |
| 10 kW | $3.93 | $27,510 | $57,430 | 8.1 years |
| 12 kW | $3.85 | $32,352 | $69,576 | 7.9 years |
| 14 kW | $3.77 | $36,973 | $81,942 | 7.8 years |
| 16 kW | $3.69 | $41,375 | $94,528 | 7.6 years |
| 18 kW | $3.62 | $45,557 | $107,335 | 7.4 years |
| 20 kW | $3.54 | $49,518 | $120,361 | 7.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Different companies carry various brands and kinds of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Reputation: Long-running companies likely have a good 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.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
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 Truth or Consequences, NM Solar Cost FAQs
What is the average cost of installing solar panels in Truth or Consequences?
The average cost of solar panels in Truth or Consequences is about $19,650 for a 5-kW system and $39,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Truth or Consequences?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home 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.
Is switching to solar power worth it?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Truth or Consequences?
Though 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 their energy production will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use 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.