Net metering in New Mexico (2026)

New Mexico uses full retail net metering — every kilowatt-hour you export to the grid is credited at the same rate you pay — the most favorable setup for solar owners, and the fastest path to a low payback period.

Regime
Full retail net metering
Electricity rate
14.2¢/kWh

What it means for your solar payback

How your utility values exported energy is one of the biggest levers on solar economics. In New Mexico, with full retail net metering, every kilowatt-hour you export to the grid is credited at the same rate you pay — the most favorable setup for solar owners, and the fastest path to a low payback period. Combined with the local rate of 14.2¢/kWh, this shapes your payback — see the exact numbers on the New Mexico solar cost page.

State incentives

Beyond net metering, New Mexico: 10% state tax credit up to $6,000 + full net metering. Note that the 30% federal tax credit ended for purchases on December 31, 2025 — though a lease or PPA can still pass a 30% credit through. More in our incentives guide.

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Net metering in New Mexico: FAQ

Does New Mexico have net metering in 2026?
New Mexico uses full retail net metering: every kilowatt-hour you export to the grid is credited at the same rate you pay — the most favorable setup for solar owners, and the fastest path to a low payback period. Statewide, 10% state tax credit up to $6,000 + full net metering.
How does net metering affect my solar savings in New Mexico?
It sets the value of the surplus power your panels send to the grid. With full retail net metering in New Mexico, a system sized to your annual usage can effectively wipe out your bill. See the full economics on our New Mexico cost page.
Is net metering going away in New Mexico?
Rules change at the state and utility level, and several states have shifted from full retail to net billing with lower export rates. Always confirm your specific utility's current policy before you buy.
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