GOING SOLAR IN THE LAND OF ENCHANTMENT
Why go solar in New Mexico
New Mexico is known for its enchanting landscapes and culture. It is also known for being a leader in solar energy. State legislature is requiring 100% of all energy generated to come from renewable sources by 2045. Going solar helps offset greenhouse gas emissions and prevent pollution. The state wants you to go solar so they are offering some of the best incentives in the nation! Join over 279,900 other homeowners* and take advantage of incentives such as net metering, solar payments, and tax credits.
Save on energy
New Mexico is motivated to go solar, which is why it is offering some of the best incentives to go solar. With net metering you can offset your energy costs. You may use more energy in hotter months, but with solar you can get a system to accommodate for this. The average American household can save $2,500 per year on energy costs!
Be prepared for outages
Scheduled and unforeseen power outages can happen. Whether it is for maintenance or because the grid is down, you may be left without power. However, if you have a solar system and batteries, you have the freedom to keep powering your home. Talk to your dealer about batteries and which ones can keep you powered at night and during an outage.
Preserve New Mexico’s outdoors
New Mexico is beloved by residents for its gorgeous lakes and forests, rugged mountains, and dramatic desert vistas. We’re all motivated to help preserve these treasures. Switching to a solar power system for your New Mexico home can help preserve these sites by reducing your carbon footprint and reducing local greenhouse gas emissions.
Have predictable payments
Imagine having a better idea of how much your energy will be each month. With solar, you may be able to produce more than what you need to power your home. If you produce more than you use, you may only have a minimum bill each month. You can budget for that and for your solar payment.
Invest in your home
A big reason homeowners decide to install a solar system is to reinvest in their home. A solar system can increase your home value and its sale price. The average New Mexico home is valued at approximately $229,947, that’s a 6.2% annual increase from the previous year. Keep up with the rising home values by investing in your home instead of giving your hard-earned money to your utility provider.**
Solar incentives in New Mexico*
In New Mexico you can qualify for the Sustainable Building Tax Credit if your home is certified sustainable by the U.S. Green Building Council. The value of the credit is determined by your certification level, up to $6.50 per square foot, and represents one of the most generous green building programs in the country.
The New Mexico solar tax credit can reduce your state tax payments by up to $6,000 or 10% off your total solar energy expenses (whichever is lower). If you are a customer of PNM they’ll pay you $0.0025 per Kwh produced for a term of 8 years. Some New Mexico utilities also offer net metering to eligible customers.
New Mexico homeowners are also eligible for the Solar Investment Tax Credit (ITC).**** The ITC allows you to deduct 26 percent of the cost of installing a solar energy system from your federal taxes.
Solar panels perform in all kinds of weather
Going solar is a big decision, and although there are many factors you should consider, local weather shouldn’t be a deterrent. Solar panels are designed to work in almost any type of weather… even snow and clouds!
Sunny
There are sunny days ahead for solar. The more sun you have access to, the longer your panels work during the day. Your panels work best at converting energy when sun rays shine directly at them. The more energy you produce, the more excess you may be able to send back to the grid. Take advantage of the excess through net metering and other incentive programs.
Rainy
As the rain pours down, your panels will continue to be hard at work. Solar panels will work with reflected or partially blocked sun rays to keep your home powered. Your production is linked to the amount of clouds. Rain will have some effect on your production, but the rays will still penetrate through the rain. It may actually help keep your panels working efficiently as they wash away any dust or dirt.
Cloudy
It is a misconception that panels don’t work on cloudy days. The best way to know how much the clouds affect your system’s performance is to monitor your system on sunny days and compare. Your system may actually be more efficient without the excess heat. This is because solar systems prefer the cold! The sun’s rays are still able to penetrate through cloudy skies and keep your system running.
Snowy
Amazingly enough, even when covered in snow a solar system can still produce power! Scattered light filters through snow and reaches solar panels even when the snow cover is fairly heavy. Your solar panels may actual be more efficient in light snow. Cold weather helps them perform better, and usually snow slides right off. Power production may be reduced with heavier snowfall, but your system can still produce.
Windy
Solar panels are highly reliable and sturdy, they hardly notice your average winds. In most cases, damage from wind will be due to weakened roofs, not solar panels. This is why we assess your roof condition and reccomend any repairs prior to installing your system. In the event that higher winds cause an outage in the grid, you will still have power if you have batteries with your system.
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*This information is current as of May 5, 2021 and figures are approximations. Customers are encouraged to check with their local utility providers for the most up to date and accurate information.
**This figure is current as of Mary 5, 2021 and is only an approximation. We advise you to consult with the appropriate professionals (including, but not limited to, your solicitor or attorney, accountant, CPA, CGA, or any other financial or legal advisor) for the implications of any information contained in our website and in any link you access through our website.
***Customers are encouraged to check with their local utility providers for the most up to date and accurate information regarding available solar incentives and programs.
****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.
