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:

 

Estimate your solar savings

 

Solar power in New Mexico

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


/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

 


Solar calculator and quote comparison tool

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.