Solar Guide for Lea County Electric Coop, Inc - (NM) Customers

If you're a Lea County Electric Coop, Inc - (NM) customer considering solar energy, you're making a smart financial decision. With residential electricity rates averaging 9.82 cents per kWh, solar panels can dramatically reduce or even eliminate your monthly electric bill. The typical Lea County Electric Coop, Inc - (NM) customer spends approximately $79 per month on electricity — money that could be working for you instead of going to the utility.

Texas service area

Lea County Electric Coop, Inc - (NM) has a not available net metering policy. While net metering isn't currently offered, solar customers still save substantially by reducing the amount of electricity they purchase from the grid. By consuming your solar energy directly as it's produced and potentially adding battery storage, you can minimize your reliance on grid electricity at 9.82¢/kWh.

An 8kW solar system for a Lea County Electric Coop, Inc - (NM) customer costs approximately $20,960 before the 30% federal Investment Tax Credit. After the ITC, your net cost drops to about $14,672. This system produces enough clean energy to save you approximately $1,341 per year, resulting in a payback period of roughly 5.9 years.

After your system pays for itself, you'll enjoy 16+ years of dramatically reduced electricity costs. Over a 25-year period, total savings for Lea County Electric Coop, Inc - (NM) customers are estimated at $33,525 — and that's without accounting for the likely 2-3% annual increase in electricity rates that would make your savings even greater.