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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Muleshoe, the typical cost of a solar system is 3 per watt.To account for the typical energy needs of the average home in Muleshoe, most homeowners require a 7.0-kilowatt system. Using the per-watt figure above, a solar installation costs around $16,346, or $23,375 before the federal solar tax credit of 0 is applied.
How much you pay can be higher or lower than the average in Muleshoe depending on several factors, such as the brand of solar panels you choose and the solar company you hire.Even with the high upfront cost, the average Muleshoe homeowner can save about $22,000 on their electricity bills over 20 years, which is one of the positives of solar.
To receive a free estimate from a vetted solar company in Muleshoe, you can 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 going solar, many homeowners prefer to go with a solar installation company since handling can be a difficult project. Some solar companies, particularly local ones, can help you better understand incentives in Muleshoe, thereby optimizing your ROI.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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. There are many different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Muleshoe to be too steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in paying more 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 APR could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Muleshoe is the company you choose to install your solar system. As with choosing a company to build a deck or pool, for instance, there’s no shortage of solar installers that offer a range of services for different budgets.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and decide on the company that offers the products, warranties and services you’re looking for and also is within your budget.
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 solar company you choose will affect not only your total costs, but also the types 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 take into account, including:
- 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 most likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer’s reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Before signing a contract with a solar installer, make sure to look it over fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Muleshoe, TX Solar Cost FAQs
What is the average cost of installing solar panels in Muleshoe?
The average cost of solar panels in Muleshoe is about $16,650 for a 5-kW system and $33,300 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 consume.
Should I lease or buy solar panels in Muleshoe?
Leasing solar panels can be an appealing choice, because 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 tax rebates and credits 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?
Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Muleshoe?
Even though 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 the amount of energy they produce will have decreased significantly after that point. You can opt 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.