Incentives per State

NEW MEXICO

New Solar Market Development Income Tax Credit: Homeowners purchasing solar systems in New Mexico can avail of a 10% state solar tax credit, with a maximum tax reduction of $6,000.

Solar Renewable Energy Credits (SRECs): Customers of El Paso Electric Company (EPE) and Public Service Company of New Mexico (PNM) receive compensation for each kilowatt-hour (kWh) their systems produce.

Solar Energy System Property Tax Exemption: An exemption from property tax is granted on the increased home value due to a rooftop solar system.

Solar Installation Sales Tax Exemption: A state sales tax exemption of 5.125% is available for home solar systems.

New Mexico Sustainable Building Tax Credit (SBTC): This credit is available for newly constructed homes equipped with solar panels, applicable up to 2,000 sq. ft.

The state government of New Mexico offers a tax credit for homes that install solar panels as part of their sustainable building practices, provided they are certified sustainable by the U.S. Green Building Council. The value of the credit depends on the level of certification, potentially reaching up to $6.50 per square foot.

El Paso Electric Renewable Energy Certificate Purchase Program: El Paso Electric offers additional financial benefits to its customers through the purchase of renewable energy certificates. The company pays $0.02 per kilowatt-hour generated by your solar panels, enhancing your savings and income from solar energy.

TEXAS

TXU Energy Renewable Buyback Plan: Homeowners in Texas who generate excess solar power from their home solar installations can receive bill credits. Note that eligibility requires residence within a service area.

Solar Energy System Property Tax Exemption: Texas offers a property tax exemption on the increase in home value resulting from the installation of solar panels.

Local Utility Company Solar Rebates: Texas utilities offer rebates that lower the upfront costs of solar installations or provide incentives after installation. The specifics of these rebates vary by utility. Get with your leader to find out about local incentives.