New Mexico Solar Panels
The New Mexico solar industry grows every day, enabling New Mexico residents to save money and have a positive impact on their beautiful state. Sunpro solar leads the way in New Mexico for residential and commercial solar panels. The sun shines bright nearly 80% of the year in Albuquerque, meaning this is a perfect location to install solar panels. With beautiful landscapes, plateaus, and 15 National Parks and Monuments, solar panels are a great way to keep New Mexico beautiful. We all want to preserve New Mexico’s natural beauty.
New Mexico Solar Incentives
Solar incentives entice many people into purchasing solar panels. Even without incentives, solar panels pay for themselves quickly, but incentives help speed up the pay back on panels to just a few years. These incentives excite many solar owners, because once you reach the break even point, everything else is profit!
A few incentives for New Mexico solar panels are:
- Federal Solar Investment Tax Credit
- Net Metering
- New Mexico State Deduction
- Property Tax Exemption
New Mexico Solar – Federal Investment Tax Credit
The Federal Investment Tax Credit is a federal provision open to people across the country, including New Mexico. When you purchase a solar panel system, you are able to apply for this tax credit on that year’s taxes. Instead of a deduction, you actually get a credit, which is far more valuable. Currently, the credit is worth 30% of your purchase, so if you purchase a $20,000 system, your taxes are credited with $6000 as though that has already been paid.
New Mexico Solar Net Metering
Net Metering allows you to actually sell back electricity to the power company. This great program works like this: during a sunny day, you likely won’t be able to use all the electricity that your panels produce. Net metering allows you to sell the extra power back to the power company. Your meter actually runs backwards! Then at night, when your panels sleep, you buy electricity from the power company as normal (unless you decide to get a battery pack.) If you sell back more electricity during a month than you use, you will have a credit that moves forward to the next month.
New Mexico Solar Tax Deduction
New Mexico phased out their 10% rebate, but new solar owners can still deduct their solar panels on their state tax return. This is a big benefit to New Mexico residents, because many states do not have income taxes, therefore cannot save this money. This puts New Mexico residents ahead of the game in the race to pay off the solar panels. Put the money saved towards your panels and have them paid off even quicker!
New Mexico Solar Property Tax Deduction
Even though New Mexico doesn’t have the highest property tax rates, exempting your solar panels from property tax does help out. Adding a New Mexico solar power system to your house can raise your property value tens of thousands of dollars. However, New Mexico allows you to exempt your property from these value increases. That means even though your house value increases your property taxes won’t increase. Your home will also be easier to sell. Wouldn’t you want to buy a house that will never have an electric bill?
Sunpro – New Mexico Solar Specialists
New Mexico trusts Sunpro Solar and so should you!. We have thousands of happy customers across the country, you can expect extraordinary customer service. Built on a solid reputation, Sunpro Solar installs quality solar panels by a team of expert installers. Therefore offering the best warranty you can count on.
Finally, Sunpro Solar conducts a free home energy audit to help you save more electricity and money. A whole house energy efficiency upgrade may be offered or included with your solar system.
Call us today to schedule a no-hassle meeting with our specialists. This free meeting will help you determine just how much Solar will save you! Call 866-450-1012 today!