Key Points
- The average cost of solar panels in New Mexico is $3.93 per watt, with an upfront cost of about $19,640.
- Over 25 years, you could save about $12,000 in electricity expenses by installing solar panels in New Mexico.
- The average payback period for solar panels in New Mexico is about 13.3 years.
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Solar power FAQs
The cost of solar panels can vary widely based on local factors and your particular system, but the average solar system in New Mexico costs about $19,640 before tax incentives or credits.
Solar power can help reduce your energy costs and increase your home’s value, making it a great investment for many households. However, whether it’s a good investment for you depends on the amount of sunlight your home gets and your energy usage habits.
The average New Mexico resident pays around $85.92 per month for electricity. With a solar system, you can save up to $1,030 per year. After 25 years with solar, you could fully recover your installation cost and make over $12,000 in energy savings.
If you’re in the market for solar panels, SaveOnEnergy can help. Just enter your information in the form on the screen and we’ll connect you with a trusted solar installer in your area.
Unlike traditional electricity generation, solar power doesn’t emit carbon dioxide into the atmosphere. It’s also a renewable resource, meaning it doesn’t replete the world’s natural resources.
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