Public Service Company of New Mexico
Most of the state, including Albuquerque, Santa Fe, Rio Rancho and Las Vegas. The largest utility in New Mexico, and the one with the better of the two crediting arrangements.
- Type
- Investor owned
- Accounts
- 540K
What they credit you
Kilowatt hour credits that do not expire
Published termsFor systems of 10 kW or less, excess electricity is saved as kilowatt hour credits applied to future bills, and the credits do not expire while the account remains open.
- Month to month
- Indefinite, as kilowatt hour credits, while the account is open.
Published terms · checked 2026-09-05 · source
What your installer should be telling you
Confirm the current treatment for your system size in writing, and confirm that the 10 kW figure is measured the way your installer is measuring it.
Applying to PNM
What PNM itself requires, as distinct from what the state rule requires. Read from its own published guidelines on the date shown.
- Under 10 kW you bank kilowatt hours, not dollars
- For systems of 10 kW AC or less, excess electricity is saved as kilowatt hour credits and applied to future bills. A banked kilowatt hour keeps its value as the retail rate rises; a banked dollar does not.
- The credits do not expire while the account is open
- There is no annual forfeiture at PNM for these credits. That is unusual and it is worth a great deal over twenty years.
- 10 kW is the design line
- Rule 570 has a dedicated section for customer-sited qualifying facilities up to and including 10 kW. Above it, the arrangement changes.
- Above the line you are a qualifying facility
- A utility pays a qualifying facility avoided costs for energy or capacity purchased from it. That is a wholesale price, not a banked kilowatt hour.
From PNM’s published guidelines · checked 2026-09-05 · source
PNM net metering questions
- Does PNM offer one for one net metering?
- Yes. For systems of 10 kW or less, excess electricity is saved as kilowatt hour credits applied to future bills, and the credits do not expire while the account remains open. Indefinite, as kilowatt hour credits, while the account is open.
- What does PNM pay for power sent back to the grid?
- Kilowatt hour credits that do not expire.
- Do I need a battery with PNM?
- Not for the economics. PNM credits exports at the retail rate, so power you send out during the day comes back at the same value after dark without storage. A battery is still worth considering for outages during hurricane season, but it is an upgrade here rather than a requirement.
- How do I find my PNM bill?
- Sign in at pnm.com. Open My Account, then Billing. Open the latest bill and save the PDF. Or screenshot the summary page. If you cannot get to it, a rough guess at your average monthly amount is enough to start.
- What is the catch with PNM?
- Confirm the current treatment for your system size in writing, and confirm that the 10 kW figure is measured the way your installer is measuring it.
Installers serving PNM customers
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