Benefits of Solar Energy
Solar energy has multiple advantages that will enhance your home for years to come.
- Lowered energy bills: You can avoid the premium cost of grid-tied power by producing some electricity at home. Plus, many states offer net metering which can allow you to sell your unused energy back to credit part of your bill.
- Better energy independence: Solar energy can keep your home functioning through blackouts and emergencies, giving you additional security. You can use your solar energy anytime with optional battery backup.
- Reduced carbon footprint: Using clean solar power reduces your dependence on conventional, less environmentally-friendly sources.
What Solar Incentives Are Available to Clovis Homeowners?
New Mexico's public agencies and power companies offer a variety of solar incentives to help minimize your solar system costs. Here's a breakdown of eligible solar programs where you live.
Incentive Type: Property Tax Incentive
Incentive Amount:
Approximately 100%
Incentive Type: Sales Tax Incentive
Website: emnrd.state.nm.usIncentive Amount:
100% of gross receipts from sale and installation of solar energy systems, dark-colored water tanks, and non-vented trombe walls
Incentive Type: Personal Tax Credit
Website: emnrd.state.nm.usIncentive Amount:
30%
Incentive Type: Corporate Tax Credit
Website: emnrd.state.nm.usIncentive Amount:
30%
Incentive Type: PACE Financing
Website: emnrd.state.nm.usIncentive Amount:
Determined locally
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in Clovis
The more informed your provider search is, the better your solar panels will ultimately function. Consider all of these criteria in your contractor search.
Licensing and Training
New Mexico regulations demand that solar installation supervisors must be master electricians or plumbers, with journeymen leading the wiring and piping work. Each journeyman working on your installation will have at least two years of experience installing solar devices. Check a company's website for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar sector's most trusted trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Clovis
The type of solar panels you purchase dictates how much electricity you can produce. Monocrystalline panels and high-quality and give you the best performance but cost more upfront. Polycrystalline panels produce less power, but they're worth it if you want a traditional panel style without the high cost. Thin-film panels aren't meant for large home installations, but they're excellent for small projects like sheds and RVs.
Additional accessories, such as battery storage and electric vehicle (EV) chargers, will add to your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar provider offers these extras, so look for a contractor that sells them if it's essential for you.
You can plan to spend about $19,650 on average for a five-kilowatt solar energy system in Clovis. Check the table in this section to get an idea of how much Clovis solar companies might quote for your specific solar system's price.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $994 |
Solar Polycrystalline | $775 |
Thin-Film | $453 |
Solar Battery | $636 |
Solar Home EV Charger | $2,385 |
Financing Solar Energy in Clovis
Choosing the optimal financing solution will impact your overall solar system cost and possible savings. Common payment options include power purchase agreements, loans, leases, and cash payments. Most solar experts recommend paying cash or using a solar loan. Cash payments demand a large up-front sum, but they help you avoid paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Like an auto or home loan, you'll pay a set monthly rate with as little as $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) lets you pay a monthly rate determined by the energy you use, akin to an electric bill. We typically don’t recommend these two choices because you won't own the system and are disqualified from using solar incentives. Ask each provider you're vetting about the financing options it offers. A team member can help you determine the most suitable option for your pocketbook.
The table below lists the average payback periods for different capacities of solar systems in Clovis.
You can claim a 26% federal solar tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, local governments and utilities may have their own rebates and financing plans that could reduce your total cost even more.
Solar System Capacity | Estimated Payback period |
---|---|
1 kW | 1.4 years |
2 kW | 2.9 years |
5 kW | 7.2 years |
10 kW | 14.3 years |
Ready to Get a Quote on Your Solar Project?
Please enter a valid 5-digit zip code!
Frequently Asked Questions About Solar in Clovis
How much money could I save by going solar in Clovis?
How common is solar energy in Clovis?
Should I anticipate a boost in my property value after going solar?
Could I still use solar power if I live in a dark, wooded, or rainy area?
What's a Clovis solar panel's average lifespan?
What size should my new Clovis solar system be?
How can I maximize my solar system's performance?
- optimize the panels' position with your solar installer
- regularly clean your solar panels
- upgrade to a more efficient inverter trim or cut down trees in the way of your panels
- use energy-efficient appliances
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.