Solar Panel Cost Guide in Portales, NM (2024 Update)
- Portales Solar Installation Cost: $15,267
- 25-Year Savings: $19,585
- Payback Period: 12.7 Years
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Average Cost of Solar Panels in Portales
We go over average solar pricing in Portales.
The national average cost of solar panels is $2.66 per watt, but in Portales it’s 4 per watt.The average Portales homeowner needs a 5.5-kilowatt system, which would cost about $15,267 with the federal tax credit, or $21,832 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true 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 company you go with.Many homeowners find going solar is a solid investment. The average homeowner in Portales can save about $21,000 on their electricity bills over 20 years.
Click the button below to get connected to a reputable solar panel company in your area for a customized estimate.
Solar savings over time in Portales
| Year | Return on Investment |
|---|---|
| 1 years | $-14,504 |
| 3 years | $-12,976 |
| 5 years | $-11,448 |
| 7 years | $-9,920 |
| 9 years | $-8,393 |
| 11 years | $-6,865 |
| 13 years | $-5,337 |
| 15 years | $-3,809 |
| 17 years | $-2,282 |
| 19 years | $-754 |
| 21 years | $774 |
| 23 years | $2,302 |
| 25 years | $3,830 |
Top Solar Installers in Portales
DIY solar panel installation is a choice some homeowners opt for, 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. A solar company can also help save you money over time by offering warranties, repairs and system component replacements.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Portales
Factors that Affect Solar Panel Costs in Portales
While the average cost of a solar system in Portales is $15,267, your final cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The type of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Portales to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time due to interest.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar company you select will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor.The size of the company sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down 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 | $4.09 | $17,166 | $15,263 | 13.2 years |
| 8 kW | $4.01 | $22,448 | $20,791 | 13.0 years |
| 10 kW | $3.93 | $27,510 | $26,539 | 12.7 years |
| 12 kW | $3.85 | $32,352 | $32,507 | 12.5 years |
| 14 kW | $3.77 | $36,973 | $38,695 | 12.2 years |
| 16 kW | $3.69 | $41,375 | $45,103 | 12.0 years |
| 18 kW | $3.62 | $45,557 | $51,731 | 11.7 years |
| 20 kW | $3.54 | $49,518 | $58,579 | 11.5 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Portales, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: If you’re worried about the endurance of your solar panels, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you want a specific brand, make sure the solar company you’re considering has it.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated 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 positive reviews from past customers.
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 Portales, NM Solar Cost FAQs
What is the average cost of installing solar panels in Portales?
The average cost of solar panels in Portales 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 such as the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Portales?
A solar panel system isn’t free in Portales, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can you sell solar power back to the grid in Portales?
The majority of states have net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a 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 get between 20 and 35 panels to cover 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.