New Mexico Solar Rebates and Incentives

Solar Market Development Tax Credit

Program Type Tax Credit
Technologies Photovoltaics, Solar Hot Water, Solar Space Heating, and Cooling and Solar Thermal
Amount Limited to $9,000 or 10 percent of system installation and cost
Required Documentation Solar System Certification Application Form and Solar System Installation Form
Official Web Site http://www.emnrd.state.nm.us/ECMD/CleanEnergyTaxIncentives/solartaxcredit.htm

New Mexico’s Solar Tax Credit is funded at $5 million a year and is available to home owners and non-corporate business owners. Applicants are eligible to receive up to $9,000 or 10 percent of system costs. And they may apply for multiple incentives. For instance, someone installing a PV system and a solar thermal system could qualify for up to $18,000 in tax credits in a year. Applicants are also eligible for the 30 percent federal tax credit on a qualified system.

The program is funded through Dec. 31, 2016.

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