Solar Panel Cost Guide in Albuquerque, NM (2024 Update)
- Albuquerque Solar Installation Cost: $15,361
- 25-Year Savings: $27,135
- Payback Period: 10.2 Years
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Average Cost of Solar Panels in Albuquerque
Find out how much it might cost to go solar in Albuquerque.
The national average cost of solar panels is $2.66 per watt, but in Albuquerque it’s 4 per watt.To account for the typical energy needs of the average home in Albuquerque, most homeowners require a 5.6-kilowatt system. Using the per-watt figure above, a solar installation costs about $15,361, or $21,966 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Albuquerque homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find installing a solar panel system is a fruitful investment. The average homeowner in Albuquerque can save about $26,000 on their energy bills over 20 years.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Albuquerque
| Year | Return on Investment |
|---|---|
| 1 years | $-14,268 |
| 3 years | $-12,082 |
| 5 years | $-9,896 |
| 7 years | $-7,710 |
| 9 years | $-5,524 |
| 11 years | $-3,338 |
| 13 years | $-1,152 |
| 15 years | $1,034 |
| 17 years | $3,220 |
| 19 years | $5,406 |
| 21 years | $7,592 |
| 23 years | $9,778 |
| 25 years | $11,964 |
Top Solar Installers in Albuquerque
Installing solar panels yourself can be a stressful undertaking, which is why hiring a solar installer is a good option for many homeowners. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some near you:
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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Albuquerque
Factors that Affect Solar Panel Costs in Albuquerque
The cost of installing a solar system in Albuquerque can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant 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 to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,930. There are several different solar panel brands and the one you choose also affects the cost. Usually, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Albuquerque homeowners choose to finance their solar panel systems to offset upfront costs.Even though solar loans make adopting solar energy more accessible for Albuquerque homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar panel installation company you choose will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor.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 come at a higher cost. It’s best to do some research and choose a company that has the products, warranties and services you’re looking for 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 | $23,248 | 10.6 years |
| 8 kW | $4.01 | $22,448 | $31,438 | 10.4 years |
| 10 kW | $3.93 | $27,510 | $39,847 | 10.2 years |
| 12 kW | $3.85 | $32,352 | $48,477 | 10.0 years |
| 14 kW | $3.77 | $36,973 | $57,327 | 9.8 years |
| 16 kW | $3.69 | $41,375 | $66,397 | 9.6 years |
| 18 kW | $3.62 | $45,557 | $75,686 | 9.4 years |
| 20 kW | $3.54 | $49,518 | $85,196 | 9.2 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what you need to do before your solar system is installed, such as updating or replacing your electrical system or roof.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Warranty: If you’re concerned about the endurance of your solar system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Albuquerque, NM Solar Cost FAQs
What is the average cost of installing solar panels in Albuquerque?
The average cost of solar panels in Albuquerque 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 things such as the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Albuquerque?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.