How New Mexico's Solar Incentives are Beneficial For You?

Transitioning to solar energy in New Mexico is not only an environmentally conscious decision but also a financially savvy one, thanks to a variety of New Mexico solar incentives designed to make solar adoption more accessible.​

✅ Key Solar Incentives in New Mexico

• Solar Market Development Tax Credit (SMDTC): This incentive offers a tax credit of up to 10% of the total costs for equipment, materials, and labor associated with installing a solar energy system, capped at $6,000. To qualify, your system must be certified by the New Mexico Energy, Minerals, and Natural Resources Department (EMNRD). ​EMNRD
  
  

• Property and Sales Tax Exemptions: Installing a solar energy system can increase your property's value, but New Mexico exempts this added value from property taxes. Additionally, the state offers a sales tax exemption on the purchase of solar systems, reducing the overall expense.​
  
  

• Federal Solar Investment Tax Credit (ITC): Beyond state incentives, the federal ITC allows homeowners to deduct 30% of the cost of installing a solar energy system from their federal taxes, a benefit available through 2032.​
  
  

🏡 Maximizing Your Solar Investment

• Net Metering Programs: Utilities like PNM and El Paso Electric offer net metering, enabling you to receive credits on your electricity bill for surplus energy your solar system generates. ​
  
  

• Sustainable Building Tax Credit (SBTC): If your home meets certain sustainability criteria, you may be eligible for additional tax credits, encouraging comprehensive energy-efficient improvements.​
  
  

⚡ Take the Next Step Toward Solar Savings

With these robust incentives, there's never been a better time to consider solar energy in New Mexico.​

💡 Ready to harness the power of the sun? Explore how these incentives can make your transition to solar seamless and affordable! 🌞🔋