Costs & Savings

Costs & Savings – Solar Calculator

Costs of the various solar power (PV) systems will vary based on the size and complexity of the system needed.  Understanding the sizing of the systems is critical, and this is where we step in to help.   

PHOTO-VOLTAIC SYSTEMS	YOUR COST
1600 Watts	$11,400
2000 Watts	$13,400
2600 Watts	$16,000
3000 Watts	$16,900
3600 Watts	$19,800
4000 Watts	$22,000
5000 Watts	$27,500
6000 Watts	$31,500
7000 Watts	$36,750
8000 Watts	$42,000

As of April 06, 2010

These are actual costs to you, and include all parts and installation required to get your system up and running.  There are no other outside hidden costs to you!

Pricing listed above, and tax credits are time-sensitive and are subject to change without notice.

We offer a free and no obligation site visit to evaluate what type and size of

Photo-Voltaic (Solar power) system would best fit the type of home or business

you have, and to analyze the goals you would be seeking in your energy saving

and resource efficiency needs.

 

We also offer a free energy audit checklist at our visit to help you find savings

in other ways. This will address the many other issues at stake that create losses

in energy that keep you from saving money.

 

The use of a small family would vary greatly from a family of 6, to the uses of a large business.  As an example, a small family may use only $100/month in electricity, but a business may use over $500/month.  

Here is an example of what kind of savings you can achieve by installing a PV system in your home or business.  The savings will vary greatly depending on the type of system you install and the amount of usage you require.  

EXAMPLE:

A typical family of 4 in a 2,500 s.f. home could comfortably use a 4000 watt system, and potentially create enough electricity to pay their full electric bill in addition to selling electricity back to PNM under their net-metering program. 

Under this program, PNM will pay for the full amount of kw generated by your system that goes back into their grid, plus you will not pay for any kw use on your home or business!

 

1,000 watts = 1 kw

A 4,000 watt system will create an estimated 24,000 watts/day, or 24 kw/day. 

Multiplied by 30 days in a month = 720 kw/month estimated to be created.

The average household use is estimated at 33 kw/day.

Multiplied by 30 days in a month = 990 kw/month estimated use.

 

Total system cost for a 4000 watt system:                       $26,340

(Same as a 4 kw system)

Less Federal & State tax credits*:                                  -$10,536

 

NET INVESTMENT:                                                       $15,804

Monthly Potential Savings:                                              $89

(Ave 990 kw/mo. use at $0.09/kw)

 

Monthly Potential Pay-back on Net-metering**:                 $94

(PNM pays you back @ $0.13/kw)         

 

POTENTIAL SAVINGS EVERY MONTH:                        $183!

 

It would take approximately 7 years to pay back the initial investment, counting only the tax credit and the electricity savings benefits.

(If you financed the system @4.5% amortized for 30 years as part of a home loan, your monthly payment is estimated to be approximately $134, which is less than what you receive back from PNM, and still a savings of approximately $49/month!)

 

You are also increasing the value of your home as more and more consumers are seeking energy efficient homes in order to lower their monthly expenses.  They will be willing to pay more for a home that has an active solar panel system, producing its own electricity than another home that does not!

 

In addition to the financial advantages of installing a PV system, do not forget the huge positive impact you are making to the environment.  By switching to solar power, you are empowering yourself to guard against future increased costs, and you are combating global warming by reducing your dependence on energy consumption.  You are also making a conscious effort to reducing the carbon footprint created by your family or business.

 

These numbers are estimates only, and are based on certain assumptions regarding cost of system, utility costs, and utility usage.  It is recommended to seek the advice of a tax accountant to verify the potential tax credits available to you.

* Tax credits are based on an estimate of a 30% credit from the Federal Government and a potential 10% from the State of New Mexico.

** In order to qualify for net metering you must register your system with PNM.  You must also apply for the tax credits in order to receive them.