New Mexico offers excellent solar conditions with abundant sunshine and PNM's net metering supporting strong residential solar economics.
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New Mexico delivers excellent solar conditions: With 5.7 daily peak sun hours and 13¢/kWh electricity rates, the Land of Enchantment offers strong solar economics. PNM serves Albuquerque and surrounding areas with good net metering policies supporting residential solar.
For Albuquerque and Santa Fe residents, solar systems typically pay for themselves in 8-10 years. Abundant sunshine and moderate electricity rates create compelling solar investment opportunities.
| Incentive | Amount | Status |
|---|---|---|
| Federal ITC | 30% of system cost | Active |
| PNM Net Metering | Full retail rate | Active |
| Property Tax Exemption | Not available | None |
| Sales Tax Exemption | Not available | None |
| System size | Gross cost | After ITC | Annual savings | Payback |
|---|---|---|---|---|
| 6 kW | $17,100 | $11,970 | ~$1,370/yr | ~8.7 years |
| 8 kW | $22,800 | $15,960 | ~$1,830/yr | ~8.7 years |