Solar Savings Calculator for Farmington, NM
Homeowners in Farmington pay an average of $105/month for electricity through PNM (Public Service Company of New Mexico). With 6.3 peak sun hours per day, solar panels can significantly reduce your energy costs.
$105
Avg Monthly Bill
14.5¢/kWh
Electricity Rate
6.3h/day
Peak Sun Hours
$37,401
Est. 25-Year Savings
Calculate Your Savings in Farmington
Adjust Your Details for Farmington, NM
$
$50$1,000
50010,000
5¢50¢
Your Estimated Solar Savings
System Size
4 kW
Panel Count
10 panels
Total System Cost
$10,800
Federal Tax Credit (30%)
-$3,240
State Tax Credit (10%)
-$1,080
Net Cost
$6,480
Annual Savings
$1,260
Payback Period
5.1 years
25-Year Savings
$37,401
Return on Investment
577%
* Estimates based on 6.3 peak sun hours/day in Farmington, NM, 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.
Local Solar Details for Farmington
Utility & Permits
- Utility Company
- PNM (Public Service Company of New Mexico)
- Permit Cost
- $250
- Permit Timeline
- 2-3 weeks
- Net Metering
- full
System Estimates
- Recommended Size
- 4 kW
- Panel Count
- 10 panels
- Gross Cost
- $10,800
- Net Cost (after credits)
- $6,480
Available Incentives for Farmington, NM
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.
Other Cities in New Mexico
More Solar Tools for Farmington
Farmington Solar IncentivesAll available tax credits and rebatesFarmington Cost ComparisonSolar vs. grid costs over 25 yearsFarmington System SizingHow many panels your home needsFarmington Permits & RegulationsLocal permit requirementsIs Solar Worth It in Farmington?Data-driven analysis for your cityFarmington Financing OptionsCompare loans, leases, and PPAs
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