Benefits of Solar Energy
Solar energy has multiple advantages that will enhance your home for years to come.
- Better energy independence: Photovoltaic systems with battery backups operate through blackouts and emergencies, and you won't have to depend on the grid for your safety and comfort.
- Reduced carbon footprint: Utilizing solar is a surefire way to minimize your carbon footprint and home fossil fuel dependency.
- Lowered energy bills: Solar panels let you generate your own energy to power your home, minimizing your regular electricity costs. Going off-grid can eliminate your bills completely.
What Solar Incentives Are Available to Roswell Homeowners?
New Mexico's public agencies and power companies offer multiple solar incentives to help offset your solar system costs. Check out a breakdown of relevant solar programs where you live.
Incentive Type: Property Tax Incentive
Incentive Type: Sales Tax IncentiveWebsite: emnrd.state.nm.us
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 CreditWebsite: ecowatch.com
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 Roswell
The more comprehensive your company research is, the better your photovoltaic system will ultimately perform. Here are some important factors to consider while shopping for a solar specialist.
Licensing and Training
New Mexico regulations require 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 devices. Solar providers can also obtain certificates from trade groups and standards organizations. The most respected 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 Roswell
Different solar panel types look and perform differently. Monocrystalline panels cost more than other options, but they generate the most power. Polycrystalline panels produce less power, but start at a more budget-friendly price point. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.
Additional system add-ons, such as battery storage and electric vehicle (EV) chargers, will raise your overall costs. However, they might make your solar system more efficient and convenient to use. Not all solar companies offer these add-ons, so look for a company that installs them if it's important for you.
Generally speaking, it will cost about $19,650 for a five-kilowatt solar array in Roswell. This table displays more specific costs for different solar panel types and system components in your area.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Roswell
There are a plethora of ways to pay for a solar energy system, and the right one will minimize your overhead. A few of the most common options include leases, cash payments, loans, and power purchase agreements (PPAs). We recommend paying with cash or using 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 incentives to reduce your total costs. Solar loans are another good option if you don’t want to make a big initial investment. You can pay for your system in monthly installments while still benefiting from 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 PPA lets you pay a fluctuating rate based on only the energy you use. We generally don't recommend these options since you will not have ownership of your system and are disqualified from solar incentives, but they might be appropriate in specific circumstances. Ask each business you're evaluating about the payment plans it offers. A team member can help you determine the best option for your financial situation.
The table below lists the average payback periods for different capacities of solar systems in Roswell.
A 26% federal tax credit applies to recently-purchased solar equipment purchased through 2032. Further incentives may be available through local governments, usually in the form of rebates and special financing programs.
|Solar System Capacity
|Estimated Payback period
Ready to Get a Quote on Your Solar Project?
Frequently Asked Questions About Solar in Roswell
How much energy and money could I save per year by switching to solar?
How prevalent is solar energy in Roswell?
Will solar energy systems increase my Roswell home value?
What upkeep do my solar panels need, and how often do they need it?
What's the average solar system size in Roswell?
What is the average payback period for Roswell solar panels?
Should I get quotes from multiple Roswell solar companies?
To share feedback or ask a question about this article, send a note to our Reviews Team at email@example.com.