Solar Panel Savings in New Mexico
Residents of New Mexico pay an average of $0.12/kWh for electricity and enjoy about 6 peak sunlight hours per day. With a federal tax credit of 30% and an additional state rebate of 5%, switching to solar can deliver excellent long-term savings.
Solar Panel Savings Calculator
Get your personalized savings estimate with live data
Data Source
Real-time solar and electricity data from government sources
Typical residential systems: 3-8 kW
Solar Conditions in New Mexico
Electricity Rate
$0.12
per kWh
Daily Sun Hours
6
peak hours
State Rebate
5%
additional savings
FAQs – Solar in New Mexico
How much can I save annually?
Use the calculator above to estimate annual savings based on your electricity bill and system size.
Try the general calculator →What incentives are available?
New Mexico residents can claim the 30% Federal Tax Credit plus an additional 5% state rebate.
What is the typical payback period?
In most cases, homeowners in New Mexico see ROI within 5-8 years depending on energy usage and system size.
Calculate your payback period →Compare with Other States
See how New Mexico compares to other states for solar savings potential