New Mexico Solar Rebates

New mexico solar rebates and incentives.

New mexico solar rebates. March 3 2020 new mexico governor michelle lujan grisham signed the bill into law. The sun shines generously over new mexico and in more ways than one. There are currently no up front rebates available on the installation of a solar power system in new mexico. New mexico solar tax credits and exemptions el paso electric renewable energy certificate purchase program.

But new mexico s solar carve out is nothing to sneeze at either. The statutes creating the credits also designate the taxes against which the credit may be applied. The balance of any refundable credits after paying all taxes due is refunded to you. With a number of solar panel rebates and incentives in new mexico like net metering the sustainable building tax credit program and the federal tax credit owning a solar system could be one of the brightest investments you can make for your home.

The solar rights act established the right to use solar energy as a property right. New mexico solar power rebates none grade. If you re a customer of el paso electric company you can earn extra income from your solar panel system by participating in their renewable energy certificate purchase program el paso electric will pay you 0 02 per kilowatt hour of electricity generated by your solar panels which. New mexico calls for 4 of new mexico s rps to be met by solar panel installations.

Especially with three of the big utilities offering ongoing performance payments the legislature is missing a golden opportunity to promote clean efficient and reliable solar power. Solar rps carve outs in new mexico. See below for forms. Taxpayers who purchase and install a solar thermal or photovoltaic system on or after this date are eligible for this non refundable tax credit.

New mexico s solar rights act 1977 and solar recordation act 1983 allow property owners to create solar easements for the purpose of protecting and maintaining proper access to sunlight. This bill provides a 10 tax credit with a value up to 6 000 for a solar system. Click here to learn more about the cnmec residential energy efficiency rebate program. New mexico provides a number of tax credits and rebates for new mexico individual income tax filers.

The pit rc rebate and credit schedule is a separate schedule to claim refundable credits. See form pit rc rebate and credit schedule.