Solar Panel Cost Guide in Muleshoe, TX (2024 Update)
- Muleshoe Solar Installation Cost: $16,346
- 25-Year Savings: $26,564
- Payback Period: 10.3 Years
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Average Cost of Solar Panels in Muleshoe
We break down average solar pricing in Muleshoe.
Although the national average of solar panels is $2.66 per watt, solar panels in Muleshoe typically cost around 3.Using this figure, a typical 7.0-kW system would cost about $16,346 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Muleshoe homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $22,000 over 20 years on utility bills.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Muleshoe
| Year | Return on Investment |
|---|---|
| 1 years | $-15,030 |
| 3 years | $-12,397 |
| 5 years | $-9,765 |
| 7 years | $-7,132 |
| 9 years | $-4,500 |
| 11 years | $-1,868 |
| 13 years | $765 |
| 15 years | $3,397 |
| 17 years | $6,030 |
| 19 years | $8,662 |
| 21 years | $11,295 |
| 23 years | $13,927 |
| 25 years | $16,559 |
Top Solar Installers in Muleshoe
When switching to solar energy, many homeowners choose to use a solar installer since installing a solar system yourself can be a challenging project. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives you can benefit from and by providing warranties and repairs.
If you’d like to make the switch to solar but still aren’t certain which solar panel company to go with, here are our recommendations for providers nearby:
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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Muleshoe
Factors that Affect Solar Panel Costs in Muleshoe
There are a number of factors that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar panel system you need for your household, 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 around $3,330. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Muleshoe, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are an affordable choice because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of loans, including the total 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 more than the principal cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar panel installation company you choose will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Muleshoe are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $3.46 | $14,545 | $19,482 | 10.7 years |
| 8 kW | $3.40 | $19,021 | $26,348 | 10.5 years |
| 10 kW | $3.33 | $23,310 | $33,402 | 10.3 years |
| 12 kW | $3.26 | $27,413 | $40,641 | 10.1 years |
| 14 kW | $3.20 | $31,329 | $48,068 | 9.9 years |
| 16 kW | $3.13 | $35,058 | $55,680 | 9.7 years |
| 18 kW | $3.06 | $38,601 | $63,480 | 9.5 years |
| 20 kW | $3.00 | $41,958 | $71,465 | 9.2 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can look into your installer’s reputation is by reading reviews.
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
- Contract: When reading through your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Muleshoe, TX Solar Cost FAQs
What is the average cost of installing solar panels in Muleshoe?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $16,650 for a 5-kW system and $33,300 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Muleshoe?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The drawback 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.
Does Muleshoe have a net metering program?
Each state has some form 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 electricity bills.
How long do solar panels last in Muleshoe?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had 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.