Solar Savings Calculator for New Mexico
New Mexico homeowners pay an average of $110/month for electricity at 15¢/kWh. With 6.3 peak sun hours per day and a 10% state tax credit, solar can dramatically cut your energy costs.
Calculate Your Savings in New Mexico
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Your Estimated Solar Savings
* Estimates based on 6.3 peak sun hours/day in New Mexico, system cost of $2.7/watt, 30% federal ITC, 10% state tax credit, 3% annual electricity inflation, and 0.5% annual panel degradation over 25 years. Actual results may vary.
Solar Incentives in New Mexico
Federal Solar Investment Tax Credit (ITC)
Reduces federal income tax liability by 30% of the total cost of a solar energy system, including equipment and installation.
New Mexico Solar Tax Credit
State income tax credit for solar installations.
Cities in New Mexico
Select your city for a more precise estimate with local electricity rates and utility information.
Albuquerque
15.2¢/kWh · 6.4h sun/day
Avg bill: $112/mo · PNM (Public Service Company of New Mexico)
Las Cruces
14.8¢/kWh · 6.5h sun/day
Avg bill: $108/mo · El Paso Electric
Rio Rancho
15¢/kWh · 6.4h sun/day
Avg bill: $110/mo · PNM (Public Service Company of New Mexico)
Santa Fe
15.5¢/kWh · 6.2h sun/day
Avg bill: $112/mo · PNM (Public Service Company of New Mexico)
Roswell
14.5¢/kWh · 6.5h sun/day
Avg bill: $105/mo · Xcel Energy
Farmington
14.5¢/kWh · 6.3h sun/day
Avg bill: $105/mo · PNM (Public Service Company of New Mexico)
More Solar Resources for New Mexico
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