Solar energy in new mexico

How much does a solar panel cost in New Mexico?

At the time of this writing, New Mexico’s average solar panel cost is $3.28 per watt. So an average 5-kilowatt (kW) system will cost between $13,940 and $18,860. However, these figures don’t account for tax credits or incentives, so your system might cost considerably less overall.

What is New Mexico's solar for all program?

The State of New Mexico was awarded a $156 million Solar for All grant in April 2024. The Energy, Minerals and Natural Resources Department is administering New Mexico’s Solar for All program. Date Program Goes Live: May 1, 2025

Do solar panels work in New Mexico?

Parts of New Mexico are among the sunniest places on earth, which means solar panels will have no trouble producing lots of energy here.

How much money does New Mexico spend on solar?

The program is allocating a total of $7 billion nationwide to fund solar systems for households that otherwise might not be able to access this clean, renewable form of energy. The State of New Mexico was awarded a $156 million Solar for All grant in April 2024.

Do solar panels save money in New Mexico?

Many days of sunshine mean that your panels can generate quite a bit of electricity compared to less-sunny states, so you can maximize your energy savings. New Mexico also offers state incentives, tax credits and net metering, all of which can save you even more money after installing solar panels. Seeking To Go Green?

How many solar installers are there in New Mexico?

According to the Solar Energy Industries Association, there are 45 solar installers operating throughout New Mexico.