Solar Panels Cost 2.7k-13k in Aztec, NM | October, 2024

Solar Panels Cost $2.7k-$13k in Aztec, NM | October, 2024

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How much do solar panels cost in Aztec, NM in 2024?

You'll pay about $3.93/W to get a solar system in October, 2024 in Aztec, NM.

Based on this price per watt, you can conclude that for every 1000 watts (1 kW) your solar system can generate, you will have to spend $3,930 for its installation. After receiving the 30% federal tax credit, a 5 kW panel install in Aztec will cost around $13,755. Your electricity use habits may need a larger system.

Select your county from the menu on the left to view the typical roof size and maximum solar panel capacity for homes in your area. Additionally, you can also see a breakdown of the costs, payback period and 20 year average savings for a 5 kW system in your county below.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Aztec: $13,755US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Aztec: 16 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Aztec: $-1,907US Average: $15,784

Solar Potential in Aztec

Estimated system size and solar electricity production per median viable roof in
Aztec.

Roof size 947sq. ft.
Capacity 13.25kW DC
Electricity 21.9kkWh AC per yr.

Electricity Costs in Aztec, NM & What that Means for Your Solar Panel Pricing

The standard kWh usage for Aztec residents is 545 monthly, with an average electric bill of $73.93. It’s worth remembering that this number includes apartments and other smaller living spaces that generally have lower energy use.

In October 2024, the electricity rate in Aztec, NM is on average 13.56¢ per kWh.

If your household uses an average amount of electricity in Aztec, you will want a solar system of 4 kW or larger to fully take care of your entire power needs. Presently, a 4 kW solar panel system will have an upfront cost of about $15,720, but the federal tax credit reduces the price by 30%, making it $11,004.

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Average solar panel costs by system size in Aztec

To your left, there is a comprehensive price breakdown for the multiple solar panel system sizes installed in Aztec. Of course, with a bigger solar system, there will be a higher upfront cost, but the advantages consist of more electricity savings and larger income tax credits.

In the solar panel cost calculator located to the right and below, you can see a cost and benefit breakdown to match an average $73.93electric bill in Aztec. For custom results, change the $73.93 to whatever your average electricity bill is.

System Size 1kW
Roof Size Min. space required
72 ft²
Electricity Value Annual Production $266 a year
Est. Price
$2,751
Savings from a 1kWthis system
  • Est. yearly production 1,897 kWh
  • Est. monthly savings $22
  • Full payback in 3 years
Environmental Impacts
  • Reduces CO2 emissions by 1.47 tons a year
  • Equivalent to planting 67 trees a year
  • Equivalent to driving 3,629 mi less a year
System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $531 a year
Est. Price
$5,502
Savings from a 2kWthis system
  • Est. yearly production 3,795 kWh
  • Est. monthly savings $44
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 2.93 tons a year
  • Equivalent to planting 135 trees a year
  • Equivalent to driving 7,257 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $797 a year
Est. Price
$8,253
Savings from a 3kWthis system
  • Est. yearly production 5,692 kWh
  • Est. monthly savings $66
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 4.4 tons a year
  • Equivalent to planting 202 trees a year
  • Equivalent to driving 10,886 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,063 a year
Est. Price
$11,004
Savings from a 4kWthis system
  • Est. yearly production 7,590 kWh
  • Est. monthly savings $74
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 4.9 tons a year
  • Equivalent to planting 225 trees a year
  • Equivalent to driving 12,131 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,328 a year
Est. Price
$13,755
Savings from a 5kWthis system
  • Est. yearly production 9,487 kWh
  • Est. monthly savings $74
  • Full payback in 16 years
Environmental Impacts
  • Reduces CO2 emissions by 4.9 tons a year
  • Equivalent to planting 225 trees a year
  • Equivalent to driving 12,131 mi less a year

Aztec Solar Panel Installation Incentives & Rebates | 2024

If you run a small business or farm in a rural area, you could receive REAP Grant support that covers 80% to 100% of your solar energy or wind turbine installation costs. To determine your eligibility, use our REAP Grant eligibility tool.

For those considering residential solar, the 30% federal income tax credit is offered to almost all homeowners, making solar power a good investment in numerous parts of the country. There are also a number of state and local efforts aimed at enhancing solar energy use.

In New Mexico, 13 solar rebates and incentives are currently available from different utilities and government agencies.

Solar incentives in NM

PNM - Performance-Based Solar Program

Value:Varies

PNM may enter power purchase agreements with solar PV, thermal, and HVAC customers to obtain credits toward the state's renewable portfolio standard. Qualifying systems may be rated for up to 100 kW of capacity. As compensation for ownership of the customer's RECs, PNM will apply bill credits based on the current value of an individual REC and the amount of energy generated by the solar panels. Should an earned bill credit exceed consumption liability, it will roll forward to subsequent months. Agreements last for eight years by default, but they may be extended for larger systems. Additional information is available from the PNM website.

Sustainable Building Tax Credit (Personal)

Value:Varies

In New Mexico, new single or multi-family homes which meet certain green construction standards may be eligible for personal income tax credits. Eligible homes must qualify for ENERGY STAR certification or a minimum LEED Silver certification level and pursue formal accreditation from the US Department of Energy/Green Building Council. Once a building is certified, the owner may apply for the credit through the Department of Energy, Minerals, and Natural Resources. The amount of the credit will be determined on a rubric considering the specific certification obtained and the square footage of the property. Additional information is available from the EMNR website.

Solar Energy Gross Receipts Tax Deduction

Value:Varies

In New Mexico, active and passive solar water heating and HVAC equipment are exempt from state gross receipt tax. Gross receipt tax is similar to sales tax and is an assessment of the total of annual business receipts after expenses. Certain trombe walls and water tanks may also qualify for the exemption if they meet certain technical specifications. Customers do not have to do anything to claim the exemption. Retailers should present a completed form RPD41341 for the system to the New Mexico Taxation and Revenue Department. Additional information is available from the NMTRD website.

Renewable Portfolio Standard

Value:Varies

New Mexico first established a renewable portfolio standard in 2004 to set goals for alternative energy investment. In 2020, at least 20% of the state's retail electricity was required to be sourced renewably. Over the long term, 50% of retail electricity must be renewable by 2030, and all of the state's electricity must be emission-free by 2045. Carve-out provisions require portions of annual renewable energy investment to use solar and wind technologies. Compliance is measured through a Renewable Energy Credit (REC) system pegging a fixed amount of electricity to a fluctuating dollar value. All operations renewable energy systems in the state generate RECs, which utilities must procure through net metering and power purchasing agreements. For failure to meet the annual REC quota, a utility will be charged penalty fines for each kilowatt hour they are deficient.

Solar/Wind Construction Permitting Standards

Value:Varies

Contractors supervising the installation or repair of a solar or wind energy system in New Mexico should have the proper license from the state board. Valid licenses include EE-98 and ER-1. Workers performing the installation or repair of a solar or wind energy system should have an EE-98J or ER-1J journeyman's license. Provisions are made for apprentices who will be supervised by a journeyman. All new wind turbines are required to undergo a structural engineering analysis. Solar PV systems may need an analysis if they exceed a minimum weight, use a unique mounting strategy, are mounted on a roof with over-spanned structures, or if structural changes are needed. Analysis results are required for a permit to be approved.

Sustainable Building Tax Credit (Corporate)

Value:Varies

In New Mexico, new commercial buildings which meet certain green construction standards may be eligible for corporate income tax credits. Eligible buildings must qualify for a minimum LEED Silver certification level and pursue formal accreditation from the US Department of Energy/Green Building Council. Once a building is certified, the owner may apply for the credit through the Department of Energy, Minerals, and Natural Resources. The amount of the credit will be determined on a rubric considering the specific certification obtained and the square footage of the property. Additional information is available from the EMNR website.

Clean Energy Revenue Bond Program

Value:Varies

By a 2005 act of the New Mexico legislature, the state may use bonds to finance new renewable energy investment or energy efficiency upgrades for state buildings and public schools. Funding recipients have a 10-year window to make improvements suggested by the Energy, Materials, and Natural Resources Department. Bonds are tax-exempt and will be repaid through energy cost savings.

Drinking Water State Revolving Loan Fund

Value:Varies

The New Mexico state government manages a revolving loan fund to support drinking water access, quality, and safety. Repaid funds immediately "revolve" to another borrower, allowing for perpetual state investment and continued support through interest. By default, at least 25% of the loan principal is forgiven, effectively taking the form of a grant. Up to 75% of the principal may be forgiven if a project aids low-income/disadvantaged communities or supports water and energy conservation efforts.

Local Option - Renewable Energy Financing District/Solar Energy Improvement Special Assessments

Value:Varies

Cities and counties in New Mexico may join Renewable Energy Financing Districts (REFDs), the state's version of a property-assisted clean energy (PACE) program. With the usual exception of single-family homes or multi-family residential property under five units, any property may apply for specialized energy efficiency loans through their local REFD. Loans carry a maximum principal of 40% of a property's assessed value. They are offered at low interest rates and secured through loss reserve funds. Repayment takes the form of a property tax lien senior to mortgages; this means should the borrower sell their property, the new owner will be responsible for continuing loan payments. Additional information is available from local REFDs.

Gross Receipts Tax Exemption for Sales of Wind and Solar Systems to Government Entities

Value:Varies

In New Mexico, equipment used as part of a wind turbine or to otherwise generate wind power for a government agency is exempt from state gross receipt tax. Solar PV and active/passive solar thermal systems are also exempt as of 2010. Gross receipt tax is essentially equivalent to corporate sales tax in other states. Incentives are applied at the time of purchasing the equipment. Additional information is available from the state revenue department.

New Mexico Solar Easements & Rights Laws

Value:Varies

New Mexico has adopted two separate "solar rights" laws protecting access to sunlight for solar panel owners. Under the Solar Rights Act of 1977, it is unlawful for property owners neighboring a solar array to purposefully obstruct solar access by placing new structures or vegetation. Under the Solar Recordation Act of 1983, property owners may obtain a "solar right" from their county government. Solar rights act similar to easements and are tied to the property's deed. Later statutes overruled local ordinances and association covenants banning solar panels, with exceptions made for historic districts.

System Benefits Charge

Value:Varies

In 2002, New Mexico established a System Benefits Fund to support clean energy adoption and education with an emphasis on serving low-income populations, local/county governments, and school districts. The fund is supported by a surcharge on all customer energy bills in the state. Utilities may earn grants to build new solar/wind farms, hydroelectric installations, or biomass plants. Grants may also fund line extensions for low-income neighborhoods and rural or remote areas. Additional information is available from the New Mexico Energy, Minerals, and Natural Resources Department.

Alternative Energy Product Manufacturers Tax Credit

Value:Varies

Businesses in New Mexico that produce components for renewable or clean energy devices, including hybrid and electric vehicles, may be eligible to claim the Alternative Energy Product Manufacturers tax credit. Both end-use products and components supplied to end-use product manufacturers are eligible for the incentive. Credit amount is determined on an individual basis by the state Taxation and Revenue department; at maximum, it will be 5% of the business's expenditures. The credit will be awarded on the condition that the company creates new full-time jobs dependent on its expenditures. Additional information is available from the NMTRD website.

Are solar panels worth it in New Mexico?

If your intention is to stay in your home beyond the solar payback period, installing solar panels is a wise option in Aztec. In Aztec, NM, the installation of a 5 kW solar system can save you an average of $3,988.2 over 20 years, with an average break even point of 16 years.

The cost of not having solar panels in Aztec, NM

In addition to missing out on the savings mentioned above, not having solar panels or an alternative backup energy source results in total reliance on your electric utility for electricity. As shown by recent news stories, complete dependence on your utility company isn't always ideal.

In recent years, customers in San Juan County have typically faced 2.73 utility outages per year. The average duration of each outage is 569.77 minutes. During severe events like equipment failure, tornadoes or construction accidents, these times can grow significantly longer.

A solar panel system, with or without a backup battery, could mitigate the effects of future outages you might face.

Power Outages

Currently, 0 customers are being tracked in San Juan County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Aztec, NM?

Your Energy Needs - The cost per watt declines with larger solar panel systems, even if the upfront cost is larger. Consumers often discover that setting up a solar system that can replace their entire electric bill is useful, resulting in significant savings.

Make & Model - Just like any other product, solar panels are available in a range of makes and models. The installer’s preference for brand makes it important to select a highly rated contractor. Superior equipment generally provide an better long-term experience for the buyer.

Solar Panel Type - Monocrystalline panels are generally accepted as the industry standard, and for valid reasons. They are pricier but produce more energy. Many professionals in solar installation utilize panels constructed from this material.

Your Property - Elements such as rough terrain, trees, or additional considerations might complicate the installation process. Solar installers now have the ability to use satellite images to evaluate your home and include these factors in the first cost estimate.

Labor Rates - Companies pay varying pay rates to their employees, which are then reflected in the prices consumers pay. It is frequently observed that companies with higher wages get superior reviews for their services and customer service.

Permitting & Interconnection - The cost of your installation will be impacted by the local permitting and utility interconnection fees, which vary depending on the area. Quality local installers will include these figures in your preliminary estimates to provide transparency.

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Who are the best solar installers in Aztec?

Freedom Forever

Temecula, CA(800) 685-1850

Services

  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Douglass Colony Group

Commerce City, CO(877) 288-0650

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Reparation of solar arrays.

Powur PBC

Del Mar, CA(866) 467-6987

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Micrometer Engineering

Scottsdale, AZ(602) 790-5749

Services

  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

IonSOLAR

Provo, UT(888) 781-7074

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

SunPro Solar

Mandeville, LA(866) 599-3643

Services

  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.
  • Auditing of energy requirements for independent energy generation.
  • Installation of batteries for energy storage.

OE Solar

Albuquerque, NM(505) 850-8863

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Reparation of solar arrays.

Dividend Finance

San Francisco, CA(415) 805-7000

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Palmetto Solar

Charleston, SC(855) 339-1831

Services

  • Solar systems for selling electricity back to the grid.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Sunnova Energy

Houston, TX(866) 786-6682

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Sunrun

San Francisco, CA(833) 394-3384

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.
  • Installation of batteries for energy storage.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

KGT Renewables

Phoenix, IL

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Precision Renewables

Snyderville CDP, UT(435) 602-4120

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Ocotillo Solar Electric

Albuquerque, NM(505) 228-8900

Services

  • Solar systems for selling electricity back to the grid.
  • Reparation of solar arrays.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

Aztec, NM Solar Panel Cost FAQs

  • The typical cost per watt for solar panels in Aztec, NM as of October, 2024 is $3.93/W. For a 5 kW solar panel system, the total cost in Aztec, NM after federal tax credits is around $13,755.
  • Various utility providers and government organizations in New Mexico are offering 13 rebates and incentives at this time. Additionally, the vast majority qualify for the 30% federal tax credit.
  • Cash payments yield the highest savings, yet numerous financing options now available for solar panels are financially beneficial as well. Your preliminary quotes will usually include financing options available through installers.
  • Yes, on average, the return on investment for 5 kW solar panel systems in Aztec, NM is achieved in 16 years, with electricity savings amounting to $3,988.2 over 20 years.
Alex Zdanov
Last Reviewed By: Alex Zdanov
Published: 2024-10-01