Affordable Solar Installations In Albuquerque
Last Updated on
New Mexico has one of the best climates for solar installations. It makes sense for homeowners to learn more about their solar options, so they can take advantage of living in a sunny state.
Several different factors go into affordable solar. Some of these include area incentives, the quote process, post-solar habits and solar-plus additions.
Incentives Impact on Affordable Albuquerque Solar Panels
In 2019, Senate Bill 489, the Energy Transition Act, passed, requiring all New Mexico energy to generate from renewable sources by 2045. The Energy Transition Act helps encourage utilities to transition away from fossil fuels and reward homeowners with solar.
PNM Incentives for Solar
Solar homeowners know that their home doesn’t produce power at night. Many residents rely on solar storage or their utility’s net metering policy. The majority of Albuquerque area residents rely on the Public Service Company of New Mexico (PNM) for electricity.
PNM offers a net metering option, allowing on-grid solar homeowners to sell back extra electricity that their solar-powered home produces. In exchange for their energy, homeowners receive one-to-one credits that customers without solar storage use to offset their nightly usage.
New Mexico State Solar Incentives
New Mexico has two state solar incentives that make going solar more affordable. These include a state tax credit and property tax credit.
The New Market Development Income Tax Credit will cover 10 percent of customer installation costs. If you don’t owe this amount in state taxes in one year, it has five years to carry over.
One of New Mexico’s property tax exemptions includes solar installations. This exemption allows the property taxes to stay the same even though the solar installation adds value to the home.
Federal Incentive: Investment Tax Credit
The Federal Investment Tax Credit (ITC) will allow solar users to deduct 26 percent of the solar energy installation cost from their federal taxes. While this incentive would have decreased to 22 percent in December of 2020 and expired after 2021, the COVID relief bill extended this tax credit effort until 2022.
To qualify for the tax rebate, a homeowner must purchase solar panels rather than lease them. This ITC extension will help save the environment and your finances, but this offer won’t last forever – invest in solar while the offer still stands.
Obtaining Affordable Solar Energy Quotes in New Mexico
Comparing Multiple Quotes
Every affordable solar installation company in Albuquerque will offer different types, brands and equipment for their solar array. When homeowners meet for an in-person solar quote, it’s wise to ask the consultant what equipment they use, in addition to the price, to find the best deal and quality for the home. While it’s compelling to purchase cheaper solar panels, investing in high-quality equipment will increase the long-term savings.
What to Look For In a Solar Quote
The best way to be sure of the total cost of adding solar to your Albuquerque home is through a customized quote. A custom quote will consider your home’s typical electricity consumption, credit score and roof type.
The Impact of Energy Consumption
The solar array size needed depends on the amount of energy the home operates on. If a home doesn’t meet the threshold for energy usage, going solar may not work out. Go Solar Group will determine whether you can benefit from residential solar.
Credit Score Requirements for Solar
While customers can install solar for zero down, they still need credit to determine their payment plan eligibility. Customers with higher credit scores qualify for better interest rates.
New Mexico Roof type and Shading
Roof type and shade play a significant role in the installation type needed and how much solar the home can manage. Roofs with large amounts of south-facing pitch can typically handle a bigger system.
Make sure the system quote doesn’t have shaded solar panels or solar panels on north-facing pitches. Solar panels in these areas won’t produce as much electricity, and depending on the inverter type, they may decrease production for the rest of the system.
Ways to Enhance Your New Mexico Home’s Solar Array
While solar panels on their own save New Mexico customers thousands of dollars over the life of the system, solar homeowners can do some things to increase these savings. Some of these cost-saving additions include: adopting post-solar habits, adding a smart thermostat and using solar batteries.
Electricity companies often charge more for power consumed at night. Utilities have found that high energy-consuming activities, like household tasks, typically happen in the evening. Homeowners with solar power can save more by doing their chores during the day because that’s when their energy operates free of charge.
Another energy sucker comes from leaving phantom electronics plugged in and house lights on. Phantom electronics are appliances that use energy even when they’re off.
Are you guilty of leaving your DVD players, TV and cell phone charger plugged in? One easy way to avoid this energy waste is to plug these devices into a powerstrip and turn it off when they aren’t in use. You could also unplug the individual cords from the wall after using them.
Adding A Smart Thermostat
Smart Thermostats have technology that can, among other things, detect when the homeowner leaves and adjust to a reduced energy consumption setting. When the homeowner returns, the technology resumes their preferred temperature. Since heating and cooling make up 44 percent of the electrical bill, the auto-schedule thermostat is a huge money saver.
Home Batteries and Solar
Home batteries reassure residential solar users who worry about power when the sun or power grid goes down. A home battery provides solar storage, so you don’t need to worry about relying on a utility company to rescue you in an emergency.
We measure solar battery quality by the capacity, depth of discharge, round trip efficiency and warranty. The best home battery on the market currently is the Tesla Powerwall.
Tesla relies on batteries with large life spans, a capacity of 15.5kWh and a depth of discharge totaling 100 percent. While a home battery is an investment, the ROI of Powerwalls saves you worry and, depending on your situation, cost.