Solar Panels in New Mexico
Everything you need to know about going solar in New Mexico (NM).
| Average Sun Hours/Day | 6.3 hours |
| Average System Cost (8 kW) | $20,000 |
| Federal Tax Credit (30%) | -$6,000 |
| Net Cost After Federal Credit | $14,000 |
| Estimated Annual Savings | $2,391/year |
| Estimated Payback Period | 5.9 years |
| State Solar Incentives | Yes — state incentives available |
Solar Incentives in New Mexico
Federal Investment Tax Credit (ITC)
The 30% federal solar tax credit is available to all New Mexico residents. For an 8 kW system, this saves approximately $6,000.
State Incentives Available
New Mexico offers additional state-level solar incentives, which may include tax credits, rebates, net metering, or renewable energy certificates. Check with your local utility and the DSIRE database for current programs.
Recommended Solar Panels for New Mexico
With excellent sun exposure (6.3 hours/day), New Mexico homeowners can maximize value with high-efficiency panels:
- LONGi Hi-MO 7 — High efficiency N-type panel, excellent value
- Trina Solar Vertex S+ — Reliable performance, competitive pricing
- REC Alpha Pure-RX — Premium panel with industry-leading warranty
Frequently Asked Questions
How much do solar panels cost in New Mexico?
The average cost of an 8 kW solar system in New Mexico is approximately $20,000 before incentives. After the 30% federal tax credit, the net cost is around $14,000.
How much can I save with solar in New Mexico?
An 8 kW solar system in New Mexico can save approximately $2,391 per year on electricity bills, with an estimated payback period of 5.9 years.
Does New Mexico have solar incentives?
Yes, New Mexico offers state-level solar incentives in addition to the federal 30% tax credit.