Best 4 Solar Companies in Hobbs, NM

How To Choose the Best Solar Company in Hobbs

The more comprehensive your company research is, the better your solar system will ultimately operate. Consider all of these factors in your service provider search.

Licensing and Training

New Mexico regulations mandate that solar installation supervisors must be master electricians or plumbers, with journeymen leading the wiring and piping work. Each journeyman assigned to your project will have at least two years of experience installing solar panels. Solar installers can also pursue certificates from trade groups and standards organizations. The top ones in the industry come from the NABCEP. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.

Cost of Solar Panels in Hobbs

Your photovoltaic panels' model will affect how much energy you can produce. Monocrystalline panels are among the highest quality and cost the most but perform the best. Polycrystalline panels offer you a budget panel with a traditional design, but at the cost of less power generation. Thin-film panels have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.

If you need to charge an electric car or use your solar power in cloudy weather, you can pay extra for accessories. By selecting the right components, you can make your system more effective and convenient to use. Not all solar providers offer these optional components, so look for a contractor that sells them if it's crucial for you.

You can expect to pay about $19,650 on average for a five-kilowatt solar energy system in Hobbs. Check the table in this section to get an idea of how much Hobbs solar companies might quote for your specific solar system's price.

Financing Solar Energy in Hobbs

Solar contractors offer multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are solar loans, cash payments, power purchase agreements (PPAs) and solar leases. We recommend paying with cash or securing a solar loan for the best return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also own your system and can apply for solar panel incentives to cut your total costs. Solar loans are another solid option if you don’t want to make a big initial investment. You can pay for your system in installments while still enjoying energy bill savings and solar incentives. However, you’ll pay more in total due to accruing interest. Solar leases allow you to pay a monthly rate to rent your panels, while a power purchase agreement lets you pay a fluctuating rate based on only the energy you use. We generally don't recommend these options since you won't own your system and are disqualified from solar incentives, but they might be appropriate in particular circumstances. We advise working with a contractor that offers multiple financing options. Speak with each agent about what's available, and acquire more than one estimate for the best odds of keeping within your spending limits.

The table below lists the average payback periods for different capacities of solar systems in Hobbs.

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 financing plans and rebates that could reduce your total cost even more.