Solar Panel Cost Guide in Mexico, NY (2024 Update)
- Mexico Solar Installation Cost: $11,706
- 25-Year Savings: $6,746
- Payback Period: 18.1 Years
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Average Cost of Solar Panels in Mexico
Find out what the average cost of solar panel installation is in Mexico.
Although the national average of solar panels is $2.66 per watt, solar panels in Mexico generally cost about 4.Using this figure, a typical 4.6-kW system would cost about $11,706 before the 0 federal solar tax credit is applied.
The true cost of your system can go above or below the average in Mexico based on a few factors, such as the model of solar panels you choose and the solar contractor you hire.Many homeowners find going solar is a solid investment. The average homeowner in Mexico can save about $13,000 on their power bills over 20 years.
Click the button below to get connected to a vetted solar panel company in Mexico for a personalized estimate.
Solar savings over time in Mexico
| Year | Return on Investment |
|---|---|
| 1 years | $-10,797 |
| 3 years | $-8,980 |
| 5 years | $-7,163 |
| 7 years | $-5,346 |
| 9 years | $-3,529 |
| 11 years | $-1,712 |
| 13 years | $106 |
| 15 years | $1,923 |
| 17 years | $3,740 |
| 19 years | $5,557 |
| 21 years | $7,374 |
| 23 years | $9,191 |
| 25 years | $11,008 |
Top Solar Installers in Mexico
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Going with an installer can make converting to solar power much easier. Solar warranties and repairs are often included in the cost of installation when you go with a solar contractor as well, which can save you more money over time.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Mexico
Factors that Affect Solar Panel Costs in Mexico
Although the average cost of a solar system in Mexico is $11,706, your final cost may be above or below the average. There are several factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
When it comes to estimating the price of solar panels in Mexico, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by about $3,650 for each additional kilowatt you need.The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Mexico to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in a higher cost over time because of interest.Even though solar loans make switching to solar energy more accessible for Mexico homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you go with to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies in Mexico, and each can charge varying amounts for labor and equipment.The company’s size can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.80 | $15,943 | $5,281 | 18.8 years |
| 8 kW | $3.72 | $20,849 | $7,450 | 18.4 years |
| 10 kW | $3.65 | $25,550 | $9,824 | 18.1 years |
| 12 kW | $3.58 | $30,047 | $12,402 | 17.7 years |
| 14 kW | $3.50 | $34,339 | $15,185 | 17.3 years |
| 16 kW | $3.43 | $38,427 | $18,171 | 17.0 years |
| 18 kW | $3.36 | $42,311 | $21,363 | 16.6 years |
| 20 kW | $3.29 | $45,990 | $24,758 | 16.3 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Before signing a contract with a solar company, be sure to read it through carefully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before making your decision.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of 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 good reviews from previous customers.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Mexico, NY Solar Cost FAQs
What is the average cost of installing solar panels in Mexico?
The average cost of solar panels in Mexico is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider other than cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Do solar panels increase how much your home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Mexico is currently $199,049, which means you can look forward to a value of about $8,161 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Mexico is a rewarding investment.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.