New Mexico · Net metering · Deep-stack program
NM Net Metering
Sets the billing terms for excess solar generation sent back to the grid by residential customers in New Mexico -- see the credit rate and how it shapes payback below.
- Retail rate credit
- stated benefit
- Residential
- eligible customers
- 10.3 yr
- New Mexico baseline payback
- 3
- other New Mexico programs
Deep-stack program · early directory
New Mexico runs a 4-program DSIRE stack; this net metering is one layer on a 10.3-year modeled baseline, not the whole story.
- Stack4 programs
- In-state #1/3
- Type #29/46
- Baseline10.3 yr
In-state directory place #1 of 3 (early alphabet). National net metering directory #29 of 46. Amounts and eligibility change; verify with the official program page before relying on a dollar figure. Informational only - not financial advice. See our disclaimer.
Program description
New Mexico utilities provide net metering at retail rates for residential systems.
Program at a glance
- Program type
- Net metering
- Eligible customers
- Residential
- Stated benefit
- Retail rate credit
- State electricity rate
- 14¢/kWh
- New Mexico solar score
- 57/100
Solar's trajectory in New Mexico
The market this incentive operates in: total installed solar capacity in New Mexico reported to the EIA.
New Mexico's solar incentive stack
How this net metering sits among New Mexico's 3 tracked programs, by type
- Tax exemption
Tax exemption
1 programs
- Net metering
Net metering
1 programs
- Tax credit
Tax credit
1 programs
What this shows New Mexico tracks 3 incentive types; net metering (1 program) governs the billing side, while the state's other tracked types handle upfront cost or ongoing payments.
How this net metering layers inside New Mexico's deep stack
The NM Net Metering governs how New Mexico credits excess solar generation sent back to the grid, one of the state's DSIRE-tracked solar policies. Eligibility is scoped to residential customers, with a stated benefit of Retail rate credit. DSIRE lists no scheduled sunset, though enabling legislation and appropriations can still be revised year to year.
That baseline is slower than most states, which raises the stakes for every incentive on the table. New Mexico averages 6.4 kWh/m²/day of usable sunlight and residential rates of 14¢/kWh, producing an estimated 11,213 kWh/year and $1,570 of annual utility offset on a typical 6 kW system costing $16,200. That baseline already implies a 10.3-year simple payback and a 25-year modeled net of roughly $23,050 before this incentive - every dollar this net metering delivers compresses that payback further.
New Mexico bundles a deep incentive stack, so this program rarely stands alone. New Mexico has 4 solar incentive programs indexed in DSIRE, including adjacent options like NM Solar Property Tax Exemption, NM Solar Market Development Income Tax Credit. The state's net-metering policy is classified as full, which governs how excess generation is credited and often decides whether a given program is worth claiming for a specific household.
Other New Mexico incentives
Frequently asked questions
Where does the NM Net Metering sit in New Mexico's deep program stack?
How does this net metering work beside New Mexico's other programs?
Who qualifies, and why is this an early in-state directory row?
How does this incentive affect solar ROI in New Mexico?
Which other New Mexico programs stack with this one?
Incentive data from the DSIRE (Database of State Incentives for Renewables & Efficiency); state solar economics from NREL and the U.S. EIA. See our methodology · New Mexico solar data · ROI calculator · All incentives.