Solar Power New Mexico

Solar rps carve outs in new mexico.

Solar power new mexico. Affordable solar new mexico s most trusted local solar panel installation company for commercial and residential solar installation services. Solar incentives rebates and tax credits available in new mexico in 2020. While its geography and solid solar resource has played an important role in the success of solar in new mexico the key driver of solar growth has arguably been the state s effective policies over the years. Contact us now and quick start to saving money in 8 weeks or less.

We are passionate about solar and want to help everyone take advantage of one of the most bountiful natural resources that new mexico has to offer. 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. We are the local solar guys locally owned and homegrown in new mexico. The new mexico renewable portfolio standard calls for 20 renewable energy by 2020 and 4 from solar power from investor owned utilities and 10 renewable from rural electric cooperatives.

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. But new mexico s solar carve out is nothing to sneeze at either. 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. As of 2018 new mexico has installed almost 800 megawatts of solar energy capacity placing it 16th on seia s national ranking in 2018.

Renewable energy certificates recs may be sold through the western renewable energy generation information system wregis. Senate bill 29 was sponsored by senator mimi stewart and representative matthew mcqueen. And if that s not enough 6 of total energy must be produced from small scale installations for example your home as opposed to giant power plants or commercial installations. New solar market development tax credit was passed by the 2020 new mexico legislature.

This bill provides a 10 tax credit with a value up to 6 000 for a solar system. On march 3 2020 new mexico governor michelle lujan grisham signed the bill into law. Compare the best solar energy companies in new mexico in 2020 updated. There are currently 57 solar energy companies operating in new mexico.