Solar Guide for El Paso Electric NM Customers
14.2¢/kWh · Full Retail Rate · Est. $2,150/yr savings with 8kW solar
Get Free Solar Quote →❌ Without Solar
✅ With Solar (8kW)
Going Solar with El Paso Electric NM
If you're a El Paso Electric NM customer considering solar energy, you're making a smart financial decision. With residential electricity rates averaging 14.2 cents per kWh, solar panels can dramatically reduce or even eliminate your monthly electric bill. The typical El Paso Electric NM customer spends approximately $114 per month on electricity — money that could be working for you instead of going to the utility.
Southern New Mexico
El Paso Electric 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 14.2¢/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 El Paso Electric 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 $2,150 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 El Paso Electric NM customers are estimated at $53,750 — and that's without accounting for the likely 2-3% annual increase in electricity rates that would make your savings even greater.
El Paso Electric NM Solar FAQ
Does El Paso Electric NM offer net metering for solar?▼
El Paso Electric NM has a full retail rate net metering policy. Customers with solar panels receive credits at the full retail rate of 14.2¢/kWh for excess energy sent to the grid. This makes solar particularly attractive for El Paso Electric NM customers.
What is El Paso Electric NM's electricity rate?▼
El Paso Electric NM's average residential electricity rate is 14.2¢ per kWh. This is near the national average of approximately 16¢/kWh. Solar can still provide meaningful savings at this rate.
How much can El Paso Electric NM customers save with solar?▼
A typical El Paso Electric NM customer with an 8kW solar system can save approximately $2,150 per year on electricity. Over 25 years, total savings are estimated at $53,750. The exact amount depends on your electricity usage, system size, and roof orientation.
What size solar system do El Paso Electric NM customers need?▼
Most El Paso Electric 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 El Paso Electric NM bill for your annual kWh usage.
Get Free Solar Quotes in El Paso Electric NM
Compare quotes from top-rated installers. No obligation.
El Paso Electric NM Quick Facts
- 💡 Rate: 14.2¢/kWh
- 📊 Net Metering: Full Retail Rate
- 💵 Buyback Rate: 9.94¢/kWh
- 💰 Annual Savings (8kW): $2,150
- 📍 State: New Mexico