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Solar Panel Cost in Santa Fe, New Mexico
Local pricing, savings, and net metering data for Santa Fe homeowners.
$1,460
Annual Savings
4 yrs
Payback Period
$5,843
Net Cost
$44,027
25-Year Savings
Cost & Savings Breakdown
Based on $150/month electric bill in Santa Fe
System Size
6.2 kW
Annual Production
11,318 kWh
Gross System Cost
$16,919
Federal Tax Credit (30%)
-$5,076
State Incentive
-$6,000
Net Cost
$5,843
Monthly Savings
$122
CO₂ Offset/yr
10,412 lbs
25-Year Savings Projection
Utility & Net Metering
Local UtilityPublic Service NM
Net Metering PolicyFull Retail
Compensation RateFull retail rate
Capacity Limit125% of annual consumption
Electricity Rate$0.129/kWh
Peak Sun Hours6.3 hrs/day
Available Incentives
30%
Federal ITC — Deduct 30% of your system cost from federal taxes. Available through 2032.
$6,000
New Mexico State Incentive — New Mexico offers a 10% state tax credit up to $6,000.
Common Questions
How much does solar cost in Santa Fe?
Solar in Santa Fe, New Mexico costs approximately $16,919 for a 6.2 kW system. After the 30% federal tax credit, your net cost is about $5,843.
What is the solar payback period in Santa Fe?
The estimated payback period for solar in Santa Fe is 4 years, based on a $150/month electric bill and local sun hours of 6.3 hrs/day.
Does Public Service NM offer net metering?
Public Service NM offers Full Retail net metering. Full retail rate.