Solar Panel Cost & Payback in New Mexico
Home solar in New Mexico pays back in a median 13.5 years across the 27 places we cover, at an average electricity price of 15.1¢/kWh and about $4.10 per watt installed. Chaparral has the fastest payback (12.9 years).
Solar estimates for New Mexico cities and towns
Sorted by fastest payback. Each figure is for a system sized to an average New Mexico home (654 kWh/month).
| Place | kWh per kW | System | Cost | Payback | 25-yr savings |
|---|---|---|---|---|---|
| Chaparral | 1,871 | 4.4 kW | $18,040 | 12.9 yrs | $21,660 |
| Deming | 1,861 | 4.4 kW | $18,040 | 13.0 yrs | $21,448 |
| Sunland Park | 1,856 | 4.4 kW | $18,040 | 13.0 yrs | $21,342 |
| Anthony | 1,843 | 4.4 kW | $18,040 | 13.1 yrs | $21,066 |
| Las Cruces | 1,818 | 4.4 kW | $18,040 | 13.2 yrs | $20,536 |
| Enchanted Hills | 1,787 | 4.4 kW | $18,040 | 13.4 yrs | $19,878 |
| Lovington | 1,784 | 4.4 kW | $18,040 | 13.4 yrs | $19,814 |
| Hobbs | 1,781 | 4.8 kW | $19,680 | 13.5 yrs | $21,546 |
| Albuquerque | 1,779 | 4.8 kW | $19,680 | 13.5 yrs | $21,500 |
| Alamogordo | 1,773 | 4.8 kW | $19,680 | 13.5 yrs | $21,361 |
| Gallup | 1,773 | 4.8 kW | $19,680 | 13.5 yrs | $21,361 |
| Artesia | 1,773 | 4.8 kW | $19,680 | 13.5 yrs | $21,361 |
| South Valley | 1,772 | 4.8 kW | $19,680 | 13.5 yrs | $21,338 |
| Rio Rancho | 1,769 | 4.8 kW | $19,680 | 13.5 yrs | $21,269 |
| Carlsbad | 1,766 | 4.8 kW | $19,680 | 13.6 yrs | $21,199 |
| Los Lunas | 1,765 | 4.8 kW | $19,680 | 13.6 yrs | $21,176 |
| Santa Fe | 1,764 | 4.8 kW | $19,680 | 13.6 yrs | $21,153 |
| Roswell | 1,762 | 4.8 kW | $19,680 | 13.6 yrs | $21,106 |
| Silver City | 1,762 | 4.8 kW | $19,680 | 13.6 yrs | $21,106 |
| Las Vegas | 1,760 | 4.8 kW | $19,680 | 13.6 yrs | $21,060 |
| Farmington | 1,757 | 4.8 kW | $19,680 | 13.6 yrs | $20,991 |
| Grants | 1,757 | 4.8 kW | $19,680 | 13.6 yrs | $20,991 |
| Portales | 1,756 | 4.8 kW | $19,680 | 13.6 yrs | $20,968 |
| Clovis | 1,755 | 4.8 kW | $19,680 | 13.6 yrs | $20,944 |
| North Valley | 1,740 | 4.8 kW | $19,680 | 13.7 yrs | $20,597 |
| Los Alamos | 1,714 | 4.8 kW | $19,680 | 13.9 yrs | $19,995 |
| Espanola | 1,714 | 4.8 kW | $19,680 | 13.9 yrs | $19,995 |