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
Adjust Your Details for New Mexico
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
Ready to Go Solar in New Mexico?
Go Solar in New Mexico
Join thousands of New Mexico homeowners saving with solar. Get a free personalized quote from Melia King Solar.
Get Your Free Quote