Are your electricity bills biting a little harder these days? New Mexico’s primary electric utility, PNM, is raising rates, and it’s affecting folks at home all over the state. But there’s good news: solar power offers a smart way to sidestep the rising costs.
People with homes in Albuquerque and Santa Fe are feeling the squeeze, as the recently greenlit rate bumps spell bigger monthly tabs. Acting fast can protect your budget from future hikes, though.
Let’s unpack what’s going on and how solar can save you money.
What Are PNM’s Rate Increases?
PNM, the Public Service Company of New Mexico, supplies electricity to a good chunk of the state. They’ve locked in an electricity rate hike to cover key operations that jack up your electric bill.
The rate adjustment comes in two phases and responds to increasing energy needs. Homeowners might face challenges budgeting for the new pricing. On the flip side, looking into solar setups could ease that money pinch.
When Are These Hikes Happening?
They’re kicking in right now. The first phase started July 1, 2025, and the second begins April 1, 2026. The New Mexico Public Regulation Commission signed off on the plan May 15, 2025, after PNM’s 2024 request.
To navigate the fresh rate shifts, customers should review their power usage now. Planning ahead helps you manage the financial impact, with solar installation delivering long-term savings against hikes.
Why Are Rates Going Up?
PNM is investing in vital upgrades. Grid reliability, renewable energy integration, and cybersecurity measures drive the costs. Wildfire prevention and rising demand from extreme weather also contribute to the need for a stronger system.
Aging infrastructure requires a lot of maintenance, and extreme heat increases cooling needs and strains the grid. Factors such as these are pushing the PNM to raise the rates.
How Much Extra Will You Pay?
For a home using 600 kWh a month, count on an additional $6.23 starting July, followed by another $6.23 in April. That adds up to $12.46 extra each month. If your usage is higher, your bill could climb even more, so check your recent statements.
How Do Rate Hikes Affect You?
Rate bumps stretch out budgets, particularly for retirees living on fixed incomes in Albuquerque and Santa Fe. Energy costs could jump 10-15% every year if the pattern holds. Solar provides a way to stabilize your expenses and skip tough money calls.
Can Solar Protect Against Rate Hikes?
Solar panels let you generate your own power and rely less on PNM — you lock in steady costs for years. Through net metering, you earn credits for leftover energy, trimming your bill and shielding you from hikes in rate.
What Incentives Are Available?
New Mexico has the Solar Market Development Tax Credit. It knocks 10% off system pricing, up to $6,000, through 2031.
How Does Solar Installation Work?
At Poulin Solar Pro, the process is simple. We start by assessing your home to determine solar potential. Next, our team designs a system tailored to your budget and needs. Our company handles all local permits and paperwork to meet regulations.
Skilled technicians install your panels quickly, then we connect and test the system to ensure it’s generating power. Ongoing customer support by our professionals keeps everything running smoothly.
Choose Solar to Save on Electric Bills
The rate hikes by PNM are heavy, but solar turns the tables and opens doors for better days. You can save on electricity and become energy independent. Take charge of your future now.