Cost of solar in Albuquerque, NM
Electricity Consumption in Albuquerque
Electricity Consumption by New Mexico residents averages 656 kWh per month. It ranks #13 in the nation for savings from installing solar panels on the home.
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Solar power in Albuquerque, New Mexico
New Mexico requires its utilities to monitor how much power is bought from the grid and how much power is exported to the grid and only bill you for the net amount of power used, this process is called net metering. On top of net metering PNM also provides $0.035 per kWh on exported power. If you export more than you consume (very likely especially in NM) the utility will write you a check and these credits carry over indefinitely.
On a standard size system on top of the money from net metering PNM will also give you about $200-$300 per year with their 3.5 cent bonus tariff. Despite being under threat there is still the 30% federal income credit and with PNM's incentives solar is made a must have home investment.
Even if you are not convinced about solar we recommend that at the very least you use the solar panel calculator to find out:
- How many solar panels you need to cover your power bill;
- How suitable your house is for solar;
- What incentives your house may be eligible for;
- The cost of solar panel installation in Albuquerque and whether you are eligible for zero down solar deals; and
- Your likely payback period and return on investment from installing solar
Estimate your solar savings
The average cost of installing residential solar panels in Albuquerque, New Mexico in 2018 is $3.52 per watt. The average system size in the US is 6 kilowatts, which means the average price of a solar system in Albuquerque, NM is $17,600. (before claiming 30% tax credit and other rebates)
What does the cost of a real solar system look like?
Facts about installing a 2.19kW solar system in Albuquerque, NM
This system would offset 100% of your energy usage if your typical monthly bill is $61, however your situation may vary so try our solar calculator to get a result tailored to you.
$6,055
Net cost of system
Cash - after 30% solar tax credit
7 Years 2 Months
Average payback time
3,519
kWh
Annual power production
7¢
/kWh
levilized cost of solar energy
37¢
/kWh
If you don't get solar
The forecast average utility price over the next 25 years
Cash flow graph based on cash purchase of this 2.19kW system
Life-time savings on this system over the next 25 years
$23,821
(Prices shown after repayments of capital)
Solar companies in Albuquerque, NM that provide pricing through the Solar-Estimate marketplace
33
Average total cost of solar panel installation in New Mexico
| System Size | Cash purchase After 30% solar tax credit |
Financed purchase After 30% solar tax credit |
|---|---|---|
| 3kw | $8,106 | $8,754 |
| 4kw | $10,500 | $11,340 |
| 5kw | $12,740 | $13,759 |
| 6kw | $14,784 | $15,967 |
| 7kw | $16,709 | $18,046 |
| 8kw | $18,480 | $19,958 |
| 9kw | $20,097 | $21,705 |
| 10kw | $21,560 | $23,285 |
Design your own solar panel system for your home
Going solar in New Mexico
Check out all of the ways energy providers of New Mexico can help you be more energy efficient and save money.
The following programs are available:
| Incentive Name | Eligibility | Type |
|---|---|---|
| Residential Renewable Energy Tax Credit | Federal | Personal Tax Credit |
Find your local rebates and incentives
Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.