Are PNM’s Rates Increasing?

If you are a higher-use customer, your annual rate of increase may be as high at 10%! See this graph which is the actual annual rate increases we analyzed from a customer who came to Affordable Solar and who was curious about what rates of increase they actually had in recent years.

Infographic showing PNM electricity rates

Rising utility rates combined with lower equipment and installation costs makes solar a great investment for your home. A typical assumption in our return on investment calculation is an annual rate increase from the utility of 5%. Rate-paying customers who pay on average over $100 per month should be looking at solar for their home as a good investment.

 

 

Patrick J. Griebel Photo
This post authored by:
Patrick J. Griebel

Patrick Griebel is the general manager of residential solar for Affordable Solar, and a long-time advocate for the solar energy industry in New Mexico. A lawyer by training, he also has experience as a salesperson in the pharmaceutical sales industry, as well as five years of service as an Army officer. He brings all of these qualities to leading Affordable's residential solar team. Personally, he's energized in his work by a belief with solar he can "change the world for the better one rooftop at a time"...