Solar Panels New Mexico Cost

Below you can compare the prices and reputations of solar installers solar panel manufacturers and other solar energy companies servicing new mexico today and learn how to select the best one.

Solar panels new mexico cost.

Solar trends in new mexico. New mexico solar permits decreased 26 to 145 in. This is lower than the average price of residential solar power systems across the united states which is currently 2 60 per watt. National data september 2020.

As of september 2020 the average solar panel cost in albuquerque nm is 3 29 w given a solar panel system size of 5 kilowatts kw an average solar installation in albuquerque nm ranges in cost from 13 982 to 18 918 with the average gross price for solar in albuquerque nm coming in at 16 450 after accounting for the 26 federal investment tax credit itc and other state and local. However solarreviews handles more than 1 000 quote requests per day and the current average price we see on our marketplace is 2 60 per watt. Solar incentives rebates and tax credits available in new mexico in 2020. There are currently 57 solar energy companies operating in new mexico.

Solar is a complicated decision and ohmhome has compiled this guide to new mexico solar with the cost of solar panels in new mexico and advice on how to estimate cost and savings navigate state and federal incentives and find the best solar companies in new mexico. The most recent official data from the doe funded lawrence berkeley labs published in september 2019 found that the median cost of residential solar panels is 3 70 watt. As of sep 2020 the average cost of solar panels in new mexico is 2 44 per watt making a typical 6000 watt 6 kw solar system 10 838 after claiming the 26 federal solar tax credit now available. What s new for 2020 2019 was a banner year for new mexico solar power because this is the year when the legislature teamed up with new governor michelle lujan grisham to pass a law requiring 100 of all energy generated in the state to come from renewable sources by 2045.

Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8. The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house. On a cost per watt w basis a solar panel installation in new mexico ranges in price from 2 79 to 3 77. Compare the best solar energy companies in new mexico in 2020 updated.

The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. As of september 2020 the average solar panel cost in new mexico is 3 28 w given a solar panel system size of 5 kilowatts kw an average solar installation in new mexico ranges in cost from 13 940 to 18 860 with the average gross price for solar in new mexico coming in at 16 400 after accounting for the 26 federal investment tax credit itc and other state and local solar incentives. The most significant incentive to install solar panels for homes and businesses is the federal solar tax credit at the end of 2020 the amount of the credit will decrease from 26 to 22 of the cost of the solar installation.