Solar Guide for Public Service Co of NM Customers
15.57¢/kWh · Full Retail Rate · Est. $2,357/yr savings with 8kW solar
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Going Solar with Public Service Co of NM
If you're a Public Service Co of NM customer considering solar energy, you're making a smart financial decision. With residential electricity rates averaging 15.57 cents per kWh, solar panels can dramatically reduce or even eliminate your monthly electric bill. The typical Public Service Co of NM customer spends approximately $125 per month on electricity — money that could be working for you instead of going to the utility.
New Mexico service area
Public Service Co of NM has a full retail rate net metering policy. This is one of the best net metering structures available — you receive full retail rate credits of 15.57¢/kWh for every excess kilowatt-hour your solar system sends to the grid. This means your solar panels generate maximum value, as surplus energy produced during sunny afternoons offsets your evening and nighttime consumption at the same rate.
An 8kW solar system for a Public Service Co of NM customer costs approximately $21,760 before the 30% federal Investment Tax Credit. After the ITC, your net cost drops to about $15,232. This system produces enough clean energy to save you approximately $2,357 per year, resulting in a payback period of roughly 5.7 years.
After your system pays for itself, you'll enjoy 17+ years of dramatically reduced electricity costs. Over a 25-year period, total savings for Public Service Co of NM customers are estimated at $58,925 — and that's without accounting for the likely 2-3% annual increase in electricity rates that would make your savings even greater.
Public Service Co of NM Solar FAQ
Does Public Service Co of NM offer net metering for solar?▼
Public Service Co of NM has a full retail rate net metering policy. Customers with solar panels receive credits at the full retail rate of 15.57¢/kWh for excess energy sent to the grid. This makes solar particularly attractive for Public Service Co of NM customers.
What is Public Service Co of NM's electricity rate?▼
Public Service Co of NM's average residential electricity rate is 15.57¢ per kWh. This is near the national average of approximately 16¢/kWh. Solar can still provide meaningful savings at this rate.
How much can Public Service Co of NM customers save with solar?▼
A typical Public Service Co of NM customer with an 8kW solar system can save approximately $2,357 per year on electricity. Over 25 years, total savings are estimated at $58,925. The exact amount depends on your electricity usage, system size, and roof orientation.
What size solar system do Public Service Co of NM customers need?▼
Most Public Service Co of NM customers need a 6-10kW solar system to offset their electricity usage. An 8kW system produces enough energy to cover the average household's needs. We recommend sizing your system based on your actual electricity consumption — check your Public Service Co of NM bill for your annual kWh usage.
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Public Service Co of NM Quick Facts
- 💡 Rate: 15.57¢/kWh
- 📊 Net Metering: Full Retail Rate
- 💵 Buyback Rate: 10.9¢/kWh
- 💰 Annual Savings (8kW): $2,357
- 📍 State: New Mexico