16 Best Solar Companies in Rio Rancho, NM (2023 Reviews)

The Cost and Benefits of Solar in Rio Rancho

Even though solar panels can help save you money on power bills over time, it's necessary to know the upfront costs. The installation cost is just one important factor you should keep in mind when looking into getting solar panels. How much it'll cost and how much you can save depend on things including:

• The cost of electricity in your area: If your local energy rates are especially high, there's a good chance you'll see a higher return on your investment in solar panels. In Rio Rancho, you can save an average of $124 a month on your electricity bills.
• The amount of sunlight your roof gets: If your rooftop doesn't get a lot of direct sunlight, your solar panel system won't be able to generate as much energy, which will give you lower savings on energy bills than a house with a roof that gets plenty of sunlight.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you receive a tax credit curretnly worth 30% of your total installation cost, your local government may offer additional tax exemptions, credits or rebates that can help you save even more. Aside from incentives, you can save an average of $25,000 over 20 years with your solar system, too.
• Electricity consumption: The average household in Rio Rancho uses a decent amount of, and consequently may save on their energy bills.

Although a solar panel system costs a sizable chunk of money upfront, it can save you much more in the long term. The question of how much, though, depends on several factors, including the size of your solar panel system and incentives.

Solar Incentives in Rio Rancho

Since solar power is more sustainable than traditional energy sources, there are a number of government incentives in place to encourage its adoption. In addition to the federal solar investment tax credit, there are also some state- and city-level programs, which in most cases, stack with the federal incentive, so you can save even more. Our article on solar incentives goes over more detailed information on the incentives you can take advantage of in Rio Rancho.

Environmental Impact of Switching to Solar in Rio Rancho

Installing solar panels can have a positive impact on the environment. You may be trying to figure out — how much does making the switch do for the planet anyway? If your household consumes lots of energy, you can have an even greater impact on the planet by switching to solar power. In fact, if you make the switch to solar power, you could lower your carbon dioxide emissions by about 100 pounds each year. For those who are worried about the environment, the upfront cost of solar is a small price to pay for the offset carbon emissions.