Saving On Solar is here to help New Mexico homeowners maximize their energy savings with solar panel installations. We have a network of licensed New Mexico solar consultants who will use your home’s size, roof type, and power usage in order to customize an affordable solar quote & design for you!
What are the benefits of going green with New Mexico solar? Well not only do renewable sources like solar create clean electricity without releasing any carbon emissions into the atmosphere but they also provide significant cost savings over time when compared against traditional power costs.
Homeowners in New Mexico are ideal candidates for solar energy absorption. If your area or utility offers net metering, you’ll receive a credit for the excess energy you produce, effectively reducing or eliminating your utility bill.
How Solar Works:
There are the three primary types of solar systems:
Solar panels are installed on rooftops where they can harness the sun's rays. When there isn't enough sunlight - such as at night time - you still get electricity by connecting through a grid connection. When it gets sunny outside and you produce more than your system needs, that extra energy goes back onto the grid so you can use it later!
The best of both worlds! Solar panels are installed on your roof, and the energy generated by them is used to power your home. When there's no sun shining, you first rely on stored solar batteries for energy before drawing power from the utility. And when you generate excess electricity you can still benefit from net metering.
Imagine how freeing it would be to live in a world where you are not tied to the grid, and have complete energy independence. Solar panels with battery backup provide all of your power needs when they're installed at your off-grid home, delivering clean renewable electricity day and night without any emissions whatsoever!
Homeowners in New Mexico qualify for a 26% credit in through 2022. Beginning in 2023, the tax credit will diminish to 22%, then end for homeowners in 2024.
Keep in mind that a tax credit works differently than a tax deduction. A credit means you’ll be directly refunded on your federal taxes for the qualified amount. For example, if you pay $15,000 for a 6kW solar system during 2021, you’ll be credited $3,900 on your 2021 tax returns, bringing the true cost of your solar installation down to $11,100.
Solar is an amazing investment for your home! There are several financing options available, and they all require $0 down and are easy to qualify for. The most popular option is a home solar loan or a home equity loan – which will still let you take advantage of the Federal tax credit that comes with getting solar panels installed on your house in New Mexico.
A solar panel installation can provide New Mexico homeowners with a relatively quick ROI by immediately reducing or eliminating your electric bill and adding tax-exempt value to your home. This is true even if you have a loan, as the monthly payment on solar panels will typically be less than what you were paying for electricity every month before installing them. On average, the added value to homes in terms of price per square foot increased 4.1%, according Zillow!
Curious about how much money you can save with solar? A typical New Mexico home with solar panels will produce more power than it needs during peak hours. With grid-tied systems, all the energy that is not used by a household goes back to the energy grid and receives credit for it because of net metering. This means when you use less electricity from your electric meter as well – causing your bill and meter to run backwards!
When you need a solar panel installation, New Mexico is an excellent place to be, but permitting and inspections can be a hassle. You don’t have to worry about permits and inspections because the solar partners we connect you with will do it for you! They will also provide engineering and installation services which will make your experience as easy as possible.