New Mexico receives abundant sunlight, making it an excellent location for investing in solar panels. Despite the relatively affordable cost of electricity in the state, fluctuating energy prices can cause uncertainty. Solar panels offer a solution for those seeking stability in their energy bills and the potential for energy independence during blackouts. Additionally, New Mexico provides state-level incentives, including a tax credit, to encourage the switch to solar energy.
When considering a switch to solar energy in New Mexico, it’s important to research the best solar panel installation companies in the state. Some top companies include Palmetto Solar for peace of mind monitoring, EnergyPal for flexibility, Freedom Forever for cash customers, and Tesla Solar for affordability. Local companies like Positive Energy Solar also offer reliable services and extended warranty terms.
Before choosing a solar company, it’s crucial to compare quotes, consider customer service, reputation, equipment quality, and how well each system meets your specific needs. The cost of solar panels in New Mexico varies, with the average cash price for a typical system falling above the national average. However, various tax credits and incentives at the federal, state, and local levels can help offset these costs.
New Mexico offers several solar incentives and rebates, including the residential clean energy credit, net metering programs, the Solar Market Development Tax Credit, sales tax exemption, and property tax exemption. These incentives make solar energy more affordable and accessible for residents in the state.
Overall, New Mexico ranks well in terms of solar-friendly policies, earning a grade of B. The state offers a range of incentives and exemptions to support residential solar panel installation and adoption. By taking advantage of these incentives and choosing a reputable solar panel installation company, residents can benefit from clean, renewable energy while reducing their reliance on traditional power sources.