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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Portales, the typical cost of solar panels is 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 true price you pay can go above or below the average in Portales depending on a few factors, such as the model of solar panels you choose and the solar installer you hire.For many homeowners, the upfront cost of solar is worth paying. On average Portales homeowners see about $21,000 in savings on electricity bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
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
When going solar, many homeowners choose to hire a solar installer since installing solar panels yourself can be a challenging project. Plus, if you aren’t sure what type of solar panels and equipment you want, a solar expert can help you find the right equipment for you after a site survey and consultation.
If you’d like to switch to solar energy but still aren’t certain which solar company to go with, here are our recommendations for providers in Portales:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Portales
Factors that Affect Solar Panel Costs in Portales
The cost of installing a solar system in Portales can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer 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 significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,930. The brand and kind of equipment you want for your solar system can raise or lower 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 more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Portales homeowners choose to finance their solar panel systems to make going solar more affordable.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you choose to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar installation companies in Portales, and each can charge different amounts for labor and equipment.Additionally, some companies in Portales have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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
The solar panel company you opt for will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
- Solar Panel Brands: Different companies offer various brands and models of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the completion timeline.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases provide high-quality solar panel installation and expertise.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Portales, NM Solar Cost FAQs
How much does it cost to install 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 stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Portales?
Solar panels aren’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 can help lower the cost.
Can you sell solar power back to the grid in Portales?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily 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 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.