Renewable Energy Production Tax Credit (Personal);
State: New Mexico
- Incentive Type: Personal Tax Credit
- Eligible Renewable/Other Technologies: Solar Thermal Electric, Photovoltaics, Landfill Gas, Wind, Biomass, Municipal Solid Waste, Anaerobic Digestion
- Applicable Sectors: Commercial, Industrial, Agricultural
- Amount: $0.01/kWh for wind and biomass
- $0.027/kWh (average) for solar (see below)
- Maximum Incentive: Wind and biomass: First 400,000 MWh annually for 10 years (i.e. $4,000,000/year)
- Solar electric: First 200,000 MWh annually for 10 years (annual amount varies)
- Statewide cap: 2,000,000 MWh plus an additional 500,000 MWh for solar electric
- Eligible System Size: Minimum of 1 MW capacity per facility
- Equipment Requirements: System must be in compliance with all applicable performance and safety standards; generators must be certified by the New Mexico Energy, Minerals, and Natural Resources Department (EMNRD).
- Carryover Provisions: Prior to 10/1/2007: Excess credit may be carried forward five years
- After 10/1/2007: Excess credit is refunded to the taxpayer
- Program Start Date: 1/1/2008
- Program Expiration Date: 1/1/2018
- Web Site: http://www.cleanenergynm.org
Contact:
Michael McDiarmid, P.E.
New Mexico Energy, Minerals and Natural Resources Department
Energy Conservation and Management Division
1220 South Saint Francis Drive
Santa Fe, NM 87505
Phone: (505) 476-3319
Fax: (505) 476-3322
E-Mail: mmcdiarmid@state.nm.us
Web Site: http://www.emnrd.state.nm.us/ecmd/
Public Information
Taxation and Revenue Department
Administrative Services Division – Joseph Montoya Bldg.
1100 South St. Frances Dr
PO Box 630
Santa Fe, NM 87504-0630
Phone: (505) 827-0369
Phone 2: (505) 827-0870
Web Site: http://www.tax.state.nm.us/