Solar Panel Cost Guide in Santa Fe, TX (2024 Update)
- Santa Fe Solar Installation Cost: $16,726
- 25-Year Savings: $23,676
- Payback Period: 11.2 Years
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Average Cost of Solar Panels in Santa Fe
Let’s take a look at the average cost of solar in Santa Fe.
The national average cost of solar panels is $2.66 per watt, but in Santa Fe it’s 3 per watt.The average Santa Fe homeowner needs a 7.2-kilowatt system, which would cost about $16,726 with the federal tax credit, or $23,918 before the 0 tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy consumption, the type of equipment you want to get, your solar contractor and more.But, once you've paid the initial cost of installation, the return on investment for most homeowners is quite fruitful, with a net average savings of about $21,000 over 20 years on utility bills.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Santa Fe
| Year | Return on Investment |
|---|---|
| 1 years | $-15,305 |
| 3 years | $-12,463 |
| 5 years | $-9,621 |
| 7 years | $-6,779 |
| 9 years | $-3,936 |
| 11 years | $-1,094 |
| 13 years | $1,748 |
| 15 years | $4,590 |
| 17 years | $7,432 |
| 19 years | $10,274 |
| 21 years | $13,117 |
| 23 years | $15,959 |
| 25 years | $18,801 |
Top Solar Installers in Santa Fe
Many homeowners decide to hire a solar installation company since installing solar panels by yourself can be time-consuming. Plus, if you aren’t sure what brand of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Santa Fe
Factors that Affect Solar Panel Costs in Santa Fe
The cost of installing a solar system in Santa Fe can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Santa Fe, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited 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 in cash is too expensive, solar loans are an affordable route because they lower your upfront costs and allow you to pay for your system over five to seven years on average.When estimating your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can impact your pricing. Santa Fe’s solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, 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 | $3.46 | $14,545 | $16,550 | 11.7 years |
| 8 kW | $3.40 | $19,021 | $22,440 | 11.5 years |
| 10 kW | $3.33 | $23,310 | $28,516 | 11.2 years |
| 12 kW | $3.26 | $27,413 | $34,778 | 11.0 years |
| 14 kW | $3.20 | $31,329 | $41,227 | 10.8 years |
| 16 kW | $3.13 | $35,058 | $47,863 | 10.6 years |
| 18 kW | $3.06 | $38,601 | $54,685 | 10.3 years |
| 20 kW | $3.00 | $41,958 | $61,694 | 10.1 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 brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: If you’re concerned about the endurance of your solar energy system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Santa Fe, TX Solar Cost FAQs
What is the average cost of installing solar panels in Santa Fe?
The average cost of solar panels in Santa Fe is about $16,650 for a 5-kW system and $33,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is going solar worth it?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
Even 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 decide to replace them after having 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.