New Mexico Solar
There’s never been a better time to become energy independent!
New Mexico Residential Solar
Residential solar panels are growing increasingly popular with New Mexico homeowners who are becoming aware of all the benefits of installing a solar panels. New Mexico is a perfect state for Solar. With today’s technologies, reduced costs, and the Federal Tax Incentives going solar has become an excellent option for homeowners in New Mexico. Whether you are moving to solar to save money on electricity, or to support a safe alternative energy source. You can trust our team to help you through your transition to producing your own power.
Cities in New Mexico We Serve
Why Go Solar
Lower Or Eliminate Your Power Bill
Add Value To Your Home
Federal & Local Incentives for Going Solar
No Electricity Rate Increases
Reduce Your Carbon Footprint
Your Choice of Price, System & Installer
Know Your Current Energy Usage in New Mexico
Having an understanding of how much electricity you are using and need is a good first step in finding out if solar is right for you.
Solar Advisors will need to know how many Kilowatt hours you use on average throughout the year. But don’t worry this is easy to figure out and it is listed on your monthly utility bill.
You can find it in a bar chart on the front or back of your bill. You can read our article on how to read your utility bill or contact us today and we can help you find this information.
Steps to Going Solar
Design & Permitting
Turn On Your Solar Power
Is Your Home Suitable for Solar
When installing a solar energy system, sun exposure is one of the important factors to consider. Generally, a southern orientation for your panels provides the maximum exposure, although an eastern or western orientation may work also.
There should be little or no shading year-round for optimal performance. Shade can greatly affect the output and efficiency of your solar panels. Consider the surrounding trees or nearby construction around your property before installing your solar energy system.
The condition of your roof will also be important if you’re considering roof-mounting your solar panels. If you’re planning to re-roof your home, it will be best do to it before your solar energy system.
Before an installation, we conduct an inspection and explain any issues that can affect their solar energy system. You can also read our article to know if your home is suitable for solar panels.
The Benefits of Going Solar
Save money on your Power Bill
Amount of savings on your monthly power bill vary per location but most homeowners will see an immediate reduction of their monthly electricity bill.
Add Value to Your Home
Solar panels are very likely to increase the value of your home. On average, studies show that homes with solar sell for more than 4.1% on average.
Own Your Electricity
Offset Your Carbon Footprint
Even a small residential solar panels system will offset multiple tons of CO2. If you want to reduce your carbon footprint solar panels are a great way.
No More Power Outages
Low Risk Investment
How Much Do Solar Panels Cost For New Mexico Residents
Your homes size and monthly energy usage will determine the cost of your solar energy system. It is easy to get a full estimate today by filling out our going solar form. It takes about 60 seconds to fill out the form and we will send you a full 4 page report with a custom estimate bulit for your homes energy needs.
If you have the savings available, paying for your solar installation with cash will typically provide the highest return on investment and the quickest payback. 50% of the payment is due on contract signing 50% on installation
We have some of the best financing available as low as 1.49% in some areas along with differed payments for the first year. Choose what length term you would like and you can pay the loan off at any time. Solar financing is considered a low-risk loan by banks. So the terms are very friendly towards homeowners.
The Federal Housing Administration (FHA) provides loans through their PowerSaver program, which provides loans for energy-saving home upgrades. The program offers multiple ways to finance your installation, the PowerSaver Second Mortgage and Energy Rehab 203(k) loan options can cover the cost of your installation. These programs offer similar interest rates to personal loans but have a much longer repayment term.
You can read more about financing your solar energy installation in our article.
Federal Tax Credits and Incentives
The 26% federal tax credit is available for purchased home solar systems installed by December 31, 2022
The Investment Tax Credit (ITC) is currently a 26 percent federal tax credit claimed against the tax liability of residential investors in solar energy property. The ITC allows the homeowner to apply for the credit on their personal income taxes. This credit is used when homeowners purchase solar systems and have them installed on their homes.
A tax credit is a dollar-for-dollar reduction in the income taxes that a person or company would otherwise pay the federal government. The ITC is based on the amount of investment in solar property. Both the residential and commercial ITC are equal to 26 percent of what has been invested in your solar energy system.
The state government and even your city may provide incentives for your solar energy system installation. Your utility company may even offer a rebate to help finance your solar energy system installation. During a solar energy system installation, we can help you through the process of applying and utilizing these incentives provided to you.
Our article on tax credits and rebates for solar energy will explain how these incentives work, and how they can help your transition to solar energy.
New Mexico’s solar incentives
New Solar Market Development Income Tax Credit
New Mexico provides a tax credit of 10% for small solar systems, including on-grid and off-grid PV systems and solar thermal systems. The starting date for this tax credit is March 1, 2020, and the tax credit runs through December 31, 2027. There is a cap of $8 million in tax credits to be issued every year on a first-come first-serve basis.
Every installation owner is encouraged to submit an application to the office as soon as their system is fully connected and operational. Waiting to the end of the calendar year or until tax filing season may cause the loss of this tax credit.
Solar Market Development Tax Credit (SMTDC)
How To Apply:
The New Mexico State Legislature passed Senate Bill 29 in early 2020. This bill re-started the popular
residential solar tax credit program. This tax credit is based upon ten percent of the solar system value
and is available for solar thermal and photovoltaic solar systems. The maximum tax credit per taxpayer
per year is $6,000.
The Energy Conservation and Management Team has been working hard to provide forms and a
submission process that reduces application errors, speeds the application, and promotes the solar
energy industry through collection of industry data.
This document has three sections.
The first section relates the general process of applying for the tax credit and introduces the electronic
portal where the applications are submitted.
The second section is a review of the information required by the forms and how that information is
entered into the application form(s).
The third section is a listing of the software reviewed for compatibility with the electronic forms. Please
note that if you use a PDF filler other than the recommended software, the results with the forms may
be mixed, and features in the forms that provide help in filling out the forms may not be available.
Instruction Manual : https://www.emnrd.nm.gov/ecmd/wp-content/uploads/sites/3/InstructionManualforNSMDTCApplicationForms8-2020-1.pdf
Aplication Form: https://www.emnrd.nm.gov/ecmd/wp-content/uploads/sites/3/SolarMarketFormsV2.0-1-1.pdf
New Mexico clean energy goals
1. New Mexico’s electricity will be 50% renewable by 2030, with a goal of 100% by 2045.
2. New Mexico’s economy will be bolstered by a large renewable energy build-out, with a local workforce trained to supply the needed labor.
3. The ETA protects consumers and reduces electricity costs as New Mexico moves away from coal.
4. New Mexico communities impacted by coal plant closures will receive millions in economic relief.
Sunshine Data of New Mexico
Sunshine, New Mexico gets 11 inches of rain, on average, per year. The US average is 38 inches of rain per year.
Sunshine averages 2 inches of snow per year. The US average is 28 inches of snow per year.
On average, there are 293 sunny days per year in Sunshine. The US average is 205 sunny days.
Summer High: the July high is around 95 degrees
Winter Low: the January low is 27
Rain: averages 11 inches of rain a year
Snow: averages 2 inches of snow a year
New Mexico Solar Energy Society
New Mexico Solar Energy Society is the the states solar association is to educate, empower, collaborate, and advocate for clean renewable energy. NMSEA is a state chapter of the American Solar Energy Society. To learn more, click on the link below.
Frequently Asked Questions - Solar Energy
Will solar power be my only source of electricity?
Not if you don’t want it to be. If you do not install a battery backup, your home will be connected to your city’s electricity grid to ensure a continuous source of power when needed. This is especially helpful if you live in a place that does not have consistent sunlight or where sunlight is not plentiful many months out of the year.
Will I need to get a new roof?
Your roof will need to be inspected to ensure that it can withstand the weight, especially if you are due for a roof replacement in the next five years.
Otherwise, no, there’s no need to tack on a brand new roof to the project. However, confirm if the warranty on your roof will be affected with the installation of the solar panels. You can find out more details on this by contacting the company that installed your roof.
What happens if my panels produce more energy than needed?
This is a great problem to have, because the energy will not go to waste!
If your home produces extra energy, it can be fed into the city’s grid, and you receive a credit on your utility bill. This is called net metering. In the case of homeowners living off the grid, the excess power goes into their battery storage and is saved for when they are running low on solar power.
What if I move?
Homeowners have a few options with their solar panels when moving. If your new home is only a short distance away, the solar installer should be able to handle the reinstallation of your panels on the new home.
However, if you are moving to another city or state, you’ll have to weigh the benefits. It will be costly to have the panels removed, taken to the new destination, and reinstalled.
You also need to evaluate how well solar panels will perform in your new home, the permitting rules of that new city or state, and what incentives they have to offer. Some homeowners opt to take advantage of selling a home with solar panels, as this increases the value of the home and is a selling point for many buyers. For those who leased the solar panels, simply call the company to have them transferred to a new location, the new homeowners, or cancel the plan altogether.