Technology Snapshot & Benefits:
Photovoltaics are technologies that convert radiant light energy to electricity. Photovoltaic (PV) cells, also called solar cells, are the building blocks of this technology. PV cells are connected together to form larger modules. A module is typically placed near or on a home or building to provide a portion of, and in some cases all of, the building's power and in turn electricity. PV systems are used for "off-the-grid" applications (homes, cabins, and water pumping on farms) as well as federal government applications (traffic warning lights and emergency call boxes near highways).

Estimated Cost Savings:
Cost savings for PV systems are typically calculated in terms of other energy options such as extending power lines or alternative energy systems. Stand-alone photovoltaic systems can be more cost-effective than extending power lines for locations as near as a quarter mile off the grid. On a 20-year, life-cycle-cost basis, a remote PV system typically costs from 25 - 50 cents per kilowatt-hour 

Getting It Done:
With the assistance of a qualified contractor, make sure to place your system in a location with adequate exposure to the sun. Check for financial incentives offered in your state by consulting the Database of State Incentives for Renewable Energy.

Although installing a photovoltaic system can cost a lot of money up front, New Mexico offers a number of solar energy incentives.  The three solar energy incentives are 1)the the New Mexico State Legislature personal income tax credit for homeowners, called the Solar Market Development; 2) PNM's photo voltaic power buyback program; and 3) Federal Solar Tax Credit. 

Much of this content is provided by the EcoBroker website.