Solar Panel Cost Guide in Tucumcari, NM (2024 Update)
- Tucumcari Solar Installation Cost: $15,448
- 25-Year Savings: $26,148
- Payback Period: 10.5 Years
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Average Cost of Solar Panels in Tucumcari
We go over average solar pricing in Tucumcari.
The national average cost of solar panels is $2.66 per watt, but in Tucumcari it’s 4 per watt.To cover the typical energy needs of the average home in Tucumcari, most homeowners require a 5.6-kilowatt system. Using the figure above, a solar installation costs around $15,448, or $22,091 before the federal solar tax credit of 0 is applied.
These figures are just estimates, and your own solar costs will vary based on the amount of energy your home requires and what company you choose to go with.Even with the significant initial cost, the average Tucumcari homeowner can save around $25,000 on their energy bills over 20 years, which is one of the advantages of solar.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Tucumcari
| Year | Return on Investment |
|---|---|
| 1 years | $-14,684 |
| 3 years | $-13,157 |
| 5 years | $-11,629 |
| 7 years | $-10,101 |
| 9 years | $-8,573 |
| 11 years | $-7,046 |
| 13 years | $-5,518 |
| 15 years | $-3,990 |
| 17 years | $-2,462 |
| 19 years | $-935 |
| 21 years | $593 |
| 23 years | $2,121 |
| 25 years | $3,649 |
Top Solar Installers in Tucumcari
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Using a solar company can make converting to solar power much easier. The payback period on an investment in solar panels will vary based on factors like your location and energy consumption, but working with a solar company can shorten it. Your provider will be able to help you identify incentives available in your area.
If you’d like to go solar but still aren’t sure which solar panel installer to go with, here are our recommendations for providers near you:
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 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 Tucumcari
Factors that Affect Solar Panel Costs in Tucumcari
While the average cost of a solar system in Tucumcari is $15,448, your actual cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That’s why it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Tucumcari to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in paying more over time due to interest.Although solar loans make switching to solar energy more accessible for Tucumcari homeowners, they can also add to 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 last significant cost factor you should consider is the installer you choose. Given the massive popularity of renewable energy solutions in Tucumcari, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Tucumcari know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $22,028 | 10.9 years |
| 8 kW | $4.01 | $22,448 | $29,811 | 10.7 years |
| 10 kW | $3.93 | $27,510 | $37,814 | 10.5 years |
| 12 kW | $3.85 | $32,352 | $46,037 | 10.3 years |
| 14 kW | $3.77 | $36,973 | $54,480 | 10.1 years |
| 16 kW | $3.69 | $41,375 | $63,143 | 9.9 years |
| 18 kW | $3.62 | $45,557 | $72,026 | 9.7 years |
| 20 kW | $3.54 | $49,518 | $81,130 | 9.5 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose significantly impacts your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Before you sign a contract with a solar installer, be sure to look it over completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases provide good-quality solar panel installation and expertise.
- Solar Panel Brands: The model of solar panel you want to get plays a part in which company you should go with, since different companies have different panels.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
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 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 Tucumcari, NM Solar Cost FAQs
How much does it cost to install solar panels in Tucumcari?
The average cost of solar panels in Tucumcari 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 kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Tucumcari?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Can solar panels eliminate my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Tucumcari, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using them at a lower efficiency.
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.