What this means for a New Mexico household
Over the last 12 months the average price was 15.33¢ per kWh and the average home used 646 kWh a month, so a typical New Mexico household spent about $99 a month on electricity, or $1,188 a year. Use is 26% below the US average of 870 kWh a month, peaking in July at 942 kWh.
Driving a Tesla Model Y Long Range AWD 1,000 miles a month takes 275 kWh from the wall (EPA 27.5 kWh/100 mi), about $42 at the state average. A 25.5 mpg gasoline car covering the same distance at $3.60 a gallon (Gulf Coast (PADD 3) average, August 2026) costs about $141.
The state average hides the real spread. Utilities in the same state charge different prices, and on a time-of-use plan the same kWh costs more in the peak hours than off-peak; each utility page shows by how much. Open PNM’s page to see its periods and fixed charge, or run the calculators below with New Mexico preloaded.
Natural gas for homes averaged $1.10 per therm over the 12 months to June 2026 (EIA, all charges included), and a typical gas-heated home uses about 439 therms a year for heating. The heat pump calculator compares that with electric heating on your plan.
A south-facing, 20° rooftop array in New Mexico produces about 1,801 kWh per installed kW a year (NREL PVWatts at the state’s population centre). What that is worth depends on your utility’s export rule, shown on each utility’s page.