Solar Market Development Tax Credit

Solar Market Development Tax Credit;
State: New Mexico

  • Incentive Type: Personal Tax Credit
  • Eligible Renewable/Other Technologies: Solar Water Heat, Solar Space Heat, Solar Thermal Process Heat, Photovoltaics, Solar Space Cooling
  • Applicable Sectors: Commercial, Residential, Agricultural
  • Amount: 10% of purchase and installation costs
  • Maximum Incentive: $9,000
  • Eligible System Size: PV: Minimum 100 W (DC)
  • Solar Thermal: Minimum collector area of 15 square feet
  • Solar Water Heat: At least 50% of the total water heating load must be provided by solar energy
  • Equipment Requirements: Must comply with requirements established in 3.3.28 NMAC (see below); includes requirement for solar water heaters to be SRCC-certified or in the certification process.
  • Carryover Provisions: Maximum 10-year carryover
  • Program Start Date: 1/1/2009
  • Program Expiration Date: 12/31/2016
  • Web Site: http://www.emnrd.state.nm.us/ECMD/CleanEnergyTaxIncentives/solartaxcredit.htm

Contact:

Ryan Helton
New Mexico Energy, Minerals and Natural Resources Department
Energy Conservation and Management Division
1220 S. St. Francis Drive
Santa Fe, NM 87505
Phone: (505) 476-3318
Fax: (505) 476-3322
E-Mail: ryan.helton@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/