Solar has never been a better option for New Mexico homeowners. See why below.
The Federal Tax Credit (ITC) Applies to New Mexico Residents and it Covers 26% of Your Solar System. Average Savings Range from $6,000 to $11,000.
New Mexico Offers 100% Sales Tax Exemption ( 5.125% of the Array)
The 2020 sales tax rate in New Mexico is 5.125%, which can add up fast. The savings that New Mexico's sales tax exemptions provide are worth noting.
100% Property Tax Exemption (About 4.1% of the Home's Value Each Year)
According to a recent study by Zillow, homes with solar panels increase in value by about 4.1%. The added value is great for homeowners when they are ready to sell the home, but it also adds to the property taxes owed each year. Thankfully, New Mexico has a 100% property tax exemption for solar.
Surplus Solar Energy and Net Metering ($5,000 to $7,000)
When you produce solar energy with your array, you only have to buy electricity from PNM when you have used more power than your system produced in the billing period. Over the span of a residential solar array's 40-year lifespan, that adds up!
Surplus Solar Energy and net metering with the Tesla Powerwall (An Additional $3,000 to $4,000 in savings)
The Tesla Powerwall, as a solar storage solution, lets you keep more or all of your solar-generated power for your own home’s use. Just pennies on the dollar over the life of your system (40 years) can add up to several thousand or more in savings.
Pay Off The Rest of Your System with Referrals ($500 to Infinity)
With only a few thousand left to pay for the whole system after all these incentives, simply earn $500 by becoming
our customer and referring a lead to us who results in a successful installation. Join our Sun Share Program today,
with no limit to the number of referrals you can submit and earn from!
Don’t Want Solar? We Can Pay You for that, Too!
Our Sun Split solar referral program lets you earn money for referrals who install with us even if you decide not to go solar. There is no limit to the number of referrals you can submit and earn from!
PNM Utility Company Incentives - ($50 Plus)
The PRC has approved a Renewable Energy Credit for PNM utility company residents in 2020 that will save the average customer, 656 kWh a month, $57.44. Customers can save even more by taking advantage of the appliance update rebates, lighting discounts and the Power Saver Program that PNM offers.