Solar Panels in
Santa Fe, NM

Updated 11/28/2020

How much do solar panels cost in Santa Fe, NM in 2020?

As of December 2020, the average solar panel cost in Santa Fe, NM is $3.44/W. Given a solar panel system size of 5 kilowatts (kW), an average solar installation in Santa Fe, NM ranges in cost from $14,620 to $19,780, with the average gross price for solar in Santa Fe, NM coming in at $17,200. After accounting for the 26% Federal Investment Tax Credit (ITC) and other state and local solar incentives, the net price you'll pay for solar can fall by thousands of dollars.

Importantly, these costs are typical for solar shoppers comparing solar quotes on the EnergySage Marketplace. When you compare quotes for solar panels on EnergySage's competitive solar marketplace, you can expect to see prices up to 20% lower than working with a single solar company.

Average solar panel cost by system size in Santa Fe, NM

System Size System Cost System Cost (after ITC)
3 kW $10,320 $7,637
4 kW $13,760 $10,182
5 kW $17,200 $12,728
6 kW $20,640 $15,274
7 kW $24,080 $17,819
8 kW $27,520 $20,365
9 kW $30,960 $22,910
10 kW $34,400 $25,456

2020 average solar panel cost graph in Santa Fe, NM

for a 5kW system

Great Price
$14,620 or less
Market Average
$17,200
Above Market
$19,780 or more

Solar installation costs do not include the 26% Federal Investment Tax Credit or local incentives. Learn more about local NM incentives, tax credits & rebates.

Payback Period

10.63 Years

20-Year Savings

$24,295

Cost per Watt

$3.44

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Top solar installers in Santa Fe, NM

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True Cost of Solar Guide™ for New Mexico

Download EnergySage’s DIY worksheet to better understand what solar should cost in your state

Don’t get sold on the hype! Find out what solar should actually cost before you talk to your first sales rep. This PDF worksheet will walk you through the simple calculations you can make to determine what size solar PV system you need, and approximately how much it should cost.