The average cost to install solar on a home in New Mexico is $4.90 per watt, with about 80 percent of systems installed for $3.45 per watt to $6.67 per watt. This is higher than the average solar cost in the Mountain Region of $4.05 per watt.
The average size of a solar system in New Mexico is 5.7 kilowatts, which would cost around $27,900 without any federal, state, or local incentives.
1 kilowatt of solar PV in New Mexico produces an average of 1,764 kilowatt-hours of electricity per year, so a 5.7 kilowatt solar system would generate 10,053 kilowatt-hours of electricity every year. An average household in New Mexico uses 7,625 kilowatt-hours of electricity in a year.
With an average state electricity price of 13 cents per kilowatt-hour, this solar system could save a household in New Mexico $1,297 each year. At this rate of annual savings, the system could pay for itself in about 22 years assuming no additional system expenses. This is less than the expected 30-year lifespan of a typical solar panel.
Santa Fe: 3.6 kilowatt system installed for $3.58 per watt by Paradise Power
Albuquerque: 2.2 kilowatt system installed for $7.81 per watt by Sacred Power
Santa Fe: 11.8 kilowatt system installed for $4.78 per watt by Consolidated Solar Technologies
Santa Fe: 7.1 kilowatt system installed for $5.46 per watt by GWGS
Albuquerque: 3.9 kilowatt system installed for $4.39 per watt by Affordable Solar
Santa Fe: 3.6 kilowatt system installed for $6.86 per watt by GWGS
Top solar companies most active in New Mexico include:
Positive Energy, Consolidated Solar Technologies, Affordable Solar, Sunspot Solar Energy Systems, GWGS
Get more information about top New Mexico solar companies.
Solar companies with some of the lowest system costs in New Mexico include:
Los Ebanistas, Sungevity, Affordable Solar, SolarCity, Sunspot Solar Energy Systems
Get more information about the best New Mexico solar companies for low system costs.