How much do solar panels cost for homes in New Mexico in October, 2023
How much do solar panels cost for homes in New Mexicoin October, 2023
What is the current average solar panel cost in New Mexico based on current offers?
As of October 2023, the average cost of solar panels per watt in New Mexico is $3.92/watt. A typical 6000 watt (6 kW) solar system is $23,520 before the federal solar credit and $16,464 after claiming the federal solar tax credit.
|System size*||Average cost
(before tax credit)
(after tax credit)
|4 kW||$4.16||267 sq/ft||$16,653||$11,657|
|5 kW||$3.95||333 sq/ft||$19,738||$13,816|
|6 kW||$3.92||400 sq/ft||$23,520||$16,464|
|8 kW||$3.88||533 sq/ft||$31,054||$21,738|
|10 kW||$3.75||667 sq/ft||$37,480||$26,236|
|12 kW||$3.70||800 sq/ft||$44,375||$31,063|
|20 kW||$3.13||1,333 sq/ft||$62,608||$43,825|
How much do solar panels cost in New Mexico?
Even if you are not convinced about solar we recommend that at the very least you use the New Mexico solar cost calculator to find out how much solar could save you on your power bill.
If you enter your zip code into the solar power calculator below you can find out how many solar panels you need for your home and see live current solar prices in your city for that size of solar system. This is the easiest way to cut to the chase because when it comes to solar panel cost knowing the average cost of solar panels (as we display in the tables on this page) doesn't really help you determine solar panel cost you would face to power your home with solar energy. Your home will be different to any other home and so solar panel cost is likely to be different to the average solar cost data.
Will residential solar power system cost fall in New Mexico in 2020?
Solar installers in New Mexico will be run off their feet in 2020 as the federal tax credit for solar panels for homes reduces at the end of the year. The average payback period for solar panels is now so short that using solar electricity to power a home in New Mexico is now an amazing way to save money. Even without a state tax credit a home solar pv system will still have enough of an effect on shrinking your electric bill that it will be hard to ignore.
The rates you are paid for solar energy exported into the utility companies grid remains relatively high compared to states that don't have net metering or a similar feed in tariff payment scheme for solar owners. While energy efficient appliances and other renewable energy installations, such as solar thermal hot water may help, residential PV solar panels offer the best payback.
Given this environment, and the effect of import tariffs placed on solar panels by the Trump administration during 2018, it is hard to see that solar power system prices in New Mexico will fall during 2020
Why is it necessary to have a solar calculator tailor solar energy system cost data to your home?
When installing solar panels the size of the solar system you need will be different to other homes because the power purchased at present from your utility company to run your home will be different to any other home.
This is why the first step of our solar panel calculator is actually a solar system size calculator. The calculator takes the address and power spend that you input for the last month and works out how many kilowatt hours of power you use per month. It then uses EIA energy usage profiling data for the 3,000 weather station locations around the country to calculate your usage pattern over the year. This is much easier than going through your previous power bills to work this out.
Once the solar calculator has worked out a system size it then uses its database of solar irradiation to work out how many solar panels you need to power your home.
It is only once it has a system size that the solar system cost data from solar providers in your city becomes useful; because you can compare solar prices on the right size of system.