New Mexico Incentives

ATTENTION NEW MEXICO CUSTOMERS!

No Sales Tax On New Mexico Solar Systems if you do the following:

For New Mexico customers ONLY (or customers picking up equipment in New Mexico)

NM no longer charges state sales tax on the design, purchase and installation of solar equipment. We will not charge tax on your order if you fill out and send to us (hand deliver, fax, snail mail) the following form:

Solar Energy Systems Tax Deduction

(This is the same form you would give to a local hardware store to avoid sales tax on products you will use to build solar hot water, solar hot air, an unvented trombe wall, or to complete your solar electric (PV) system.)

Commercial customers please note:
If you would normally give us a non-taxable transaction certificate (NTTC), or if we already have one on file, we will need a completed copy of the above form as well. NTTCs are no longer valid for solar purchases. You will not pay state sales tax, so the result is the same; we just need the extra form.

Wind equipment, water pumps and any items not related to the sale and installation of solar equipment are still subject to sales tax. For more information, contact us at 800-810-9939, or see the state site: Solar Tax Deduction

New Mexico Solar Tax Credit

Incentives

• State income tax credit worth 30% of the total installed system cost, less any applicable federal solar incentives, up to a maximum of $9,000

Requirements

• Taxpayers that purchase and install a qualifying photovoltaic or active solar thermal system after January 1, 2006, and before December 31, 2015
• Eligible systems include:
  • Off-grid and grid tied residential and agricultural photovoltaic systems
  • Grid-tied commercial and industrial systems
  • State certified active hot water and hot air systems
• A system must first be certified by the New Mexico Energy Department

Net-Metering

Most locations in the state of New Mexico allow net metering. Please check with your local utility company

PNM PV RECs Buyback Program

Incentives

• Sell REC's (Renewable Energy Credits) to PNM for $.13 for every kWh of solar generated power (In addition to net metering)

Requirements

• Be a customer of PNM (Public Service Company of New Mexico)
• Own net-metered photovoltaic system

Federal Incentives

Federal Rebates for Renewable Energy Systems

Incentives

• Rebate grants up to $3,000 based on 25% of the cost of installation

Requirements

• Residential or small commercial installation of a renewable energy system in 2006 through 2010

Federal Solar Tax Credits for homeowners and businesses

Incentives

• Provides a credit equal to 30% of the installed cost, with a cap of $2,000 for homeowners and no cap for businesses

Requirements

• For tax years 2006 and 2007 only. The residential credit will terminate in 2008. The business credit will decrease to 10% after 2008
• Only for systems placed in service after January 1, 2006