Solar in New Mexico: Opportunities and risks

There are few locations on Earth more suitable for solar power than New Mexico. This is the perfect location to take advantage of the many benefits, including potentially smaller energy bills, lucrative tax credits and incentives*, and the opportunity to contribute to a cleaner, more sustainable future.

But what are the risks of going solar in New Mexico? There are a few, and it’s good to know both the pros and the cons before you make a decision about your energy future. Here are four potential challenges to solar power for your New Mexico home.

#1 Incentives may not last forever

Net metering is an important incentive that allows solar-powered homes to reduce energy costs by selling excess generated electricity into the grid. Some states are adjusting their current net metering programs, which will impact solar homes. 

However, the federal solar tax credit is on schedule to lapse soon. Without new federal legislation, you may need to act quickly if you want to access this very substantial tax credit* for your new solar installation.

#2 Higher upfront costs

Switching to solar electricity for your New Mexico home is an investment: you spend upfront to enjoy substantial cost savings over time. There are, of course, numerous incentives available that make a solar installation affordable for almost everyone, however, you should make certain you have the financial flexibility to cover the initial solar investment.

#3 Lower cost fossil fuel electricity

Solar electricity is cheaper than fossil fuel electricity, which is one way solar homeowners save  on energy. However, if prices from traditional sources plummet, solar customers could lose that advantage. There’s nothing imminent to suggest that will ever happen, but it’s one factor to at least be aware of.

#4 Home suitability

Your home needs to have sufficient roof area to mount solar panels. Solar providers also recommend south- or west-facing panel orientation for the best generating results. You should consult with your solar provider before installation to ensure all the factors pertaining to your home are suitable for a new solar system installation.

Make the best New Mexico solar power decision

Having all the facts on hand, both pros and cons, allows you to make the best decision about solar power for your New Mexico home. Contact Freedom Forever today to learn more about your options, or to receive a FREE quote for service.

Freedom Forever is proud to help New Mexico homeowners understand all the facts about going solar.

*Disclaimer: You should contact a qualified tax expert and consult with them. Neither Freedom Forever’s family of independent authorized dealers nor Freedom Forever itself can give you tax advice. A qualified tax professional will understand your situation and be able to give you the most relevant advice.