economics of residential solar in new mexico€¦ · solar market development pv database fields ....
TRANSCRIPT
FEB 4, 2015
ECONOMICS OF RESIDENTIAL SOLAR IN NEW MEXICO
MARK GAISER
BSEE, MBA
Funding provided by the US Department of Energy / State Energy Program Award DE-EE0006218
ENERGY CONSERVATION AND MANAGEMENT DIVISION
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Residential Solar Tax Credit
New Mexico Solar Market Development Tax Credit was established in 2006 for individual taxpayers.
Tax Credit of $3 million for PV, $2 million for solar thermal (hot water & space heating) per year, 2006 through 2016.
Tax Credit of 10% per system, with a maximum of $9,000.00 per system, per year.
Solar system equipment and installation costs are exempt from GRT enacted in 2007.
Parallel Federal Tax Law of 30% tax credit per location for the years 2007 through 2016.
Please see the ECMD website under Renewable Energy / Solar for details of the specific laws and rules.
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ECMD Database – Residential Solar
Data collected through the applications for the NM SMD Tax Credit.
Evaluated data since 2008. Data presented today are from the
Residential Solar database for Photovoltaic (PV) Systems.
The Solar Thermal program is not fully subscribed and has much fewer systems than the PV program.
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Solar Market Development PV Database Fields
Project Number
Operational Date
ApplicantProject Address
Project County
ContractorApplication
StatusApproval
Status
Review Date UtilityCustomer
SectorHome
InstallationInstaller
NameSystem Cost
Module Manufacturer
Module Model
Number Of Collectors
Module rated DC power
(Watts)
Cost Per Module
Module Dimensions
Inverter Manufacturer
Inverter Model
Inverter Capacity
Inverter Cost
Labor CostNew
ConstructionBIPV Thin Film
Tracking System
Eligible State Tax Credit
Approved State Tax
Credit Amount
Approved Federal Tax
Credit
Gross Receipts
Deduction
Submitted Date
NM ECMD Solar Market Development Tax Credit Database Column Headings
34 fields 4
Notes on data presented today
Data presented today are based upon ongoing data collection efforts and data reduction efforts. Some of the data for 2014 are from an earlier report that did not include all of the final results for calendar year 2014
Data for Project year 2014 continues to be processed, and because of the significant backlog of applications for 2014, the true amount of installations in 2014 may not be reported for another 3 weeks.
The database is based upon the tax credit applications. The actual numbers of residential solar installations in any one year may be more than the number of tax credit applications that we receive.
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Residential System Installed Capacity
0 kW
5,000 kW
10,000 kW
15,000 kW
20,000 kW
25,000 kW
30,000 kW
CY 2009 CY 2010 CY 2011 CY 2012 CY 2013 CY 2014
Inst
alle
d C
apac
ity
Calendar Year
New Mexico Residential Solar Installed Capacity 2009 through 2014
Annual DC Power Installed
Cumulative DC Power Installed Data from NM ECMD Solar Tax Credit Database - January 7, 2015
The expected number for 2014 is expected to equal 2012 or exceed it.
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Basic Residential Solar Statistics and Changes
Residential Installations
CY 2009 CY 2010 CY 2011 CY 2012 CY 2013 CY 2014Percent Change
from 2009 Residential
Systems DC Power by year
319 kW 2,080 kW 5,243 kW 7,313 kW 6,566 kW 5,922 kW 1855%
SystemsAverage System DC
power3.5 kW 4.6 kW 4.8 kW 6.8 kW 5.8 kW 5.8 kW 63.2%
Median System DC Power
3.1 kW 3.6 kW 3.7 kW 4.3 kW 4.9 kW 5.0 kW 61.8%
ModulesMedian $ per watt $4.34 $3.25 $3.08 $2.34 $1.80 $1.60 -63.0%
Highest $ per watt $7.54 $15.70 $7.71 $8.80 $8.74 $6.96 -7.7%
Lowest $ per watt $2.64 $1.22 $1.14 $0.70 $0.65 $0.32 -87.8%
Rev NC 01-22-15
Statistics and Economic data from NM ECMD Solar Tax Credit Database January 7, 2015
New Mexico Solar Market Development Tax Credit Statistics
CY = Calendar year Jan. 1 through Dec. 31
Cumulative installed capacity 2008 - 2014: 27,443 kW Average system installation cost in 2014: $26,285.00 7
NM Residential Installations for 10 counties
0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0
StateAverage
Dona Ana
Santa Fe
Sandoval
Taos
Grant
Bernalillo
Valencia
San Miguel
Socorro
Los Alamos
New Mexico Residential PV Systems per 1000 capita 2012 - 2014
Year 2012 Year 2013 Year 2014
Year period Nov. 1 through Oct. 31
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TOP 12 COUNTIES IN 2014
January 1, 2014 through December 31, 2014
Counties Ranked by System Dollars
Spent
Projects Approved by
ECMD for Calendar Year 2014
Sum of System Dollars Spent by
Owners
Dollars Spent on Labor to Install
SystemsAverage Dollars
per System
Bernalillo 321 $8,125,530.56 $1,964,785.10 $25,313.18Dona Ana 322 $7,647,512.18 $1,180,467.27 $23,750.04Santa Fe 125 $3,988,943.77 $675,740.57 $31,911.55Sandoval 93 $2,702,692.48 $639,781.92 $29,061.21Valencia 36 $981,416.91 $255,657.00 $27,261.58Taos 23 $554,929.96 $133,532.74 $24,127.39Grant 15 $409,752.47 $92,022.13 $27,316.83Otero 12 $344,455.18 $68,114.11 $28,704.60San Miguel 11 $341,265.09 $82,107.10 $31,024.10Colfax 11 $323,694.74 $71,411.30 $29,426.79Los Alamos 8 $186,263.06 $37,602.32 $23,282.88San Juan 4 $177,512.30 $38,136.00 $44,378.06
Residential Solar Installations in New MexicoCalendar Year 2014
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Residential Solar Installations by System Cost by County January 1, 2014 through December 31, 2014
Counties Ranked by System Dollars Spent
Projects Approved by ECMD for Calendar
Year 2014County population -
2010 census
Systems per 1000
capita
Sum of System Dollars Spent by
Owners
Dollars Spent on Labor to Install
Systems
Tax Credits Approved for
System OwnersGross Receipts Tax Reduction
A
Bernalillo 321 662,564 0.48 $8,125,530.56 $1,964,785.10 $805,099.04 $511,069.38Dona Ana 322 209,233 1.54 $7,647,512.18 $1,180,467.27 $760,691.38 $509,992.04Santa Fe 125 144,170 0.87 $3,988,943.77 $675,740.57 $380,981.49 $274,258.38Sandoval 93 131,561 0.71 $2,702,692.48 $639,781.92 $267,457.17 $170,925.79Valencia 36 76,569 0.47 $981,416.91 $255,657.00 $88,942.22 $65,613.02Taos 23 32,937 0.70 $554,929.96 $133,532.74 $55,495.00 $38,774.71Grant 15 29,514 0.51 $409,752.47 $92,022.13 $40,976.06 $27,045.50Otero 12 63,797 0.19 $344,455.18 $68,114.11 $34,447.00 $23,090.03San Miguel 11 29,393 0.37 $341,265.09 $82,107.10 $34,125.90 $22,182.23Colfax 11 13,750 0.80 $323,694.74 $71,411.30 $32,369.35 $20,230.12Los Alamos 8 17,950 0.45 $186,263.06 $37,602.32 $18,625.40 $12,520.49San Juan 4 130,044 0.03 $177,512.30 $38,136.00 $17,752.00 $11,694.77Socorro 8 17,866 0.45 $158,382.90 $45,916.73 $15,839.40 $8,221.96Rio Arriba 6 40,246 0.15 $156,700.39 $30,331.30 $15,671.30 $10,185.53Chaves 4 65,645 0.06 $137,372.19 $31,081.27 $13,737.00 $8,952.54Torrance 4 16,383 0.24 $122,172.22 $29,516.00 $12,217.00 $8,456.38Lincoln 3 20,497 0.15 $95,556.33 $23,715.40 $9,556.00 $5,434.77Mora 3 4,881 0.61 $92,120.08 $28,631.20 $9,212.00 $5,698.38Luna 4 25,095 0.16 $78,482.40 $12,759.52 $7,848.00 $5,494.67Sierra 2 11,988 0.17 $77,424.00 $11,440.00 $7,742.00 $5,199.89Eddy 2 53,829 0.04 $57,460.00 $5,650.00 $5,746.00 $3,303.95McKinley 2 71,492 0.03 $56,983.84 $13,602.60 $5,698.38 $1,200.00De Baca 1 2,022 0.49 $33,094.00 $5,121.88 $3,309.00 $2,626.84Union 2 4,549 0.44 $30,756.81 $8,409.50 $3,076.00 $2,306.77Quay 1 9,041 0.11 $9,078.55 $0.00 $908.00 $737.63Catron 0 3,725 0.00 $0.00 $0.00 $0.00 $0.00Roosevelt 0 19,846 0.00 $0.00 $0.00 $0.00 $0.00Curry 0 48,376 0.00 $0.00 $0.00 $0.00 $0.00Lea 0 64,727 0.00 $0.00 $0.00 $0.00 $0.00Cibola 0 27,213 0.00 $0.00 $0.00 $0.00 $0.00Guadalupe 0 4,687 0.00 $0.00 $0.00 $0.00 $0.00Harding 0 695 0.00 $0.00 $0.00 $0.00 $0.00Hidalgo 0 4,894 0.00 $0.00 $0.00 $0.00 $0.00
Sums for CY 2014 1023 2,059,179 $26,889,552.41 $5,485,532.96 $2,647,522.09 $1,755,215.77 A
Rev A 1-15-15
Census data from NM Economic Development site: www.gonm.biz/Census_2010.aspx
Statistics and Economic data from NM ECMD Solar Tax Credit Database January 7, 2015
Calendar Year 2014
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January 1, 2014 through December 31, 2014
Counties Ranked by Solar Installations per
capita
Projects Approved by ECMD for Calendar
Year 2014County population -
2010 census
Systems per 1000
capita
Sum of System Dollars Spent by
Owners
Dollars Spent on Labor to Install
Systems
Tax Credits Approved for
System OwnersGross Receipts Tax Reduction
Dona Ana 322 209,233 1.54 $7,647,512.18 $1,180,467.27 $760,691.38 $509,992.04Santa Fe 125 144,170 0.87 $3,988,943.77 $675,740.57 $380,981.49 $274,258.38Colfax 11 13,750 0.80 $323,694.74 $71,411.30 $32,369.35 $20,230.12Sandoval 93 131,561 0.71 $554,929.96 $133,532.74 $55,495.00 $38,774.71Taos 23 32,937 0.70 $554,929.96 $133,532.74 $55,495.00 $38,774.71Mora 3 4,881 0.61 $92,120.08 $28,631.20 $9,212.00 $5,698.38Grant 15 29,514 0.51 $409,752.47 $92,022.13 $40,976.06 $27,045.50De Baca 1 2,022 0.49 $33,094.00 $5,121.88 $3,309.00 $2,626.84Bernalillo 321 662,564 0.48 $8,125,530.56 $1,964,785.10 $805,099.04 $511,069.38Valencia 36 76,569 0.47 $981,416.91 $255,657.00 $88,942.22 $65,613.02Socorro 8 17,866 0.45 $158,382.90 $45,916.73 $15,839.40 $8,221.96Los Alamos 8 17,950 0.45 $186,263.06 $37,602.32 $18,625.40 $12,520.49Union 2 4,549 0.44 $30,756.81 $8,409.50 $3,076.00 $2,306.77San Miguel 11 29,393 0.37 $186,263.06 $37,602.32 $18,625.40 $12,520.49Torrance 4 16,383 0.24 $122,172.22 $29,516.00 $12,217.00 $8,456.38Otero 12 63,797 0.19 $344,455.18 $68,114.11 $34,447.00 $23,090.03Sierra 2 11,988 0.17 $77,424.00 $11,440.00 $7,742.00 $5,199.89Luna 4 25,095 0.16 $78,482.40 $12,759.52 $7,848.00 $5,494.67Rio Arriba 6 40,246 0.15 $156,700.39 $30,331.30 $15,671.30 $10,185.53Lincoln 3 20,497 0.15 $95,556.33 $23,715.40 $9,556.00 $5,434.77Quay 1 9,041 0.11 $9,078.55 $0.00 $908.00 $737.63Chaves 4 65,645 0.06 $137,372.19 $31,081.27 $13,737.00 $8,952.54Eddy 2 53,829 0.04 $57,460.00 $5,650.00 $5,746.00 $3,303.95San Juan 4 130,044 0.03 $56,983.84 $13,602.60 $5,698.38 $1,200.00McKinley 2 71,492 0.03 $56,983.84 $13,602.60 $5,698.38 $1,200.00Catron 0 3,725 0.00 $0.00 $0.00 $0.00 $0.00Cibola 0 27,213 0.00 $0.00 $0.00 $0.00 $0.00Curry 0 48,376 0.00 $0.00 $0.00 $0.00 $0.00Guadalupe 0 4,687 0.00 $0.00 $0.00 $0.00 $0.00Harding 0 695 0.00 $0.00 $0.00 $0.00 $0.00Hidalgo 0 4,894 0.00 $0.00 $0.00 $0.00 $0.00Lea 0 64,727 0.00 $0.00 $0.00 $0.00 $0.00Roosevelt 0 19,846 0.00 $0.00 $0.00 $0.00 $0.00
Sums for CY 2014 1023 2,059,179 $24,466,259.40 $4,910,245.60 $2,408,005.80 $1,602,908.18
Census data from NM Economic Development site: www.gonm.biz/Census_2010.aspx
Statistics and Economic data from NM ECMD Solar Tax Credit Database January 7, 2015
Calendar Year 2014
Residential Solar Installations ranked by per 1000 capita by County
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Top Five Installers in New Mexico
2012 Top Five NM State Installers
Residential Projects Certified
Consolidated Solar Technologies 258 Positive Energy, Inc 175 Sunspot Solar Energy Systems, LLC 155 Affordable Solar Installation, Inc 149 Solar Smart Living 38 93 Contractors State Wide Total 1068
2013 Top Five NM State Installers
Residential Projects Certified
Consolidated Solar Technologies 224 Sunspot Solar Energy Systems, LLC 211 Positive Energy, Inc. 170 Affordable Solar 157 1B Electric Company 36 101 Contractors State Wide Total 1133
2014 Top Five NM State Installers
Residential Projects Certified
Positive Energy 206 Consolidated Solar Technologies 201 Sunspot Solar Energy Systems, LLC 179 Affordable Solar 163 Direct Power and Water Corp. 34 56 Contractors State Wide Total 1023
Based upon calendar year January 1 through December 31 Tax Credit approvals.
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Cost Data Slides only Engineers and Economists can love. Defines: ◦ System Dollars per Watt. ◦ Module Dollars per Watt. ◦ Inverter Dollars per Watt. ◦ Labor Dollars per Watt. ◦ System Sizes
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Summary The citizens of New Mexico have invested $137,625,665 in
residential solar systems in the past 6 years – 2008 to 2014. Over 380 firms are listed in our database as having participated in a
residential solar installation in the past 6 years. $28,075,964 has been spent on local jobs over these past 6 years. The systems have produced 80,766 MWhrs of electricity*. The Residential Solar Tax Credit on PV systems has been fully
subscribed for the last three years. One third of the counties in New Mexico are not participating in
this industry. This represents about 10% of the population. The system trend is for the cost of the equipment to decline while
the system size increases.
* assumptions: 1600 kWhrs /kW @ 0.69 efficiency and 1% degradation per year 20
For Conversation
Voluntary Commercial System Reporting 10kW to 2 MW
Roll out of electronic applications for Residential Solar Tax Credit
What can ECMD provide for the solar industry in New Mexico?
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