Solar Market Development Tax Credit

ECMD Contact: Vince Barrera
(505) 476-3323
Vincent.Barrera@state.nm.us

 

New Mexico boasts world-class solar energy, ranking second in the nation after Arizona, with the potential to provide Solar Tax Credit brochure 1,000 times more energy than Public Service Company of New Mexico’s current demand. New transmission in our state would allow the export of large quantities of clean energy. Advancements in solar energy production are possible wtih strong state leadership willing to focus on solutions that provide real world incentives for citizens, businesses and schools.

The New Mexico Solar Market Development Tax Credit, or Solar Tax Credit (STC), will pay up to 10% (up to $9,000) of your solar photovoltaic (PV) or solar thermal system that is operational subsequent to January 1, 2009. In addition to the STC, the federal government will pay 30% in a federal tax credit for your solar system. The STC was established in 2006 to help you invest in clean energy for your home or business.

Click on Frequently Asked Questions for information on how to apply for the tax credit.

New Mexico's STC benefits homeowners, businesses and agricultural entities that install PV or solar heating systems. Up to $5 million in state government tax credit support is available annually through 2016. Since its inception in 2006 through 2010, the STC has supported the deployment of 30 million BTUs per day of clean heating energy and over 5 megawatts of clean electricity. As a result of continued demand for the STC, there has been a significant increase in economic activity for solar, electrical, mechanical and plumbing businesses.

In order to reduce the amount of paper for each application, please only provide the information that is indicated on the Checklist. The Checklist is included in the Solar System Certification Application.

Solar System Certification Application
Solar System Installation Form
Taxpayer and Contractor Statement of Understanding
Photovoltaic List Form
Solar Thermal List Form
Solar Market Development Income Tax Credit Claim Form RPD 41317
Solar Federal Form 5695 - Residential Energy Credits
 
Additional Information
Rules for Solar Tax Credit
Protect Your Solar Rights (brochure)
Video: Clean Renewable Solar Energy for Your Home - You Can Do It
Video: How to Invest In a Solar System for Your Home
Federal Solar Energy Incentives - Frequently Asked Questions (from Solar Energy Industries Association)
State Forestry
505-476-3325
New Mexico Energy, Minerals and Natural Resources Department | Copyright
1220 South St. Francis Drive | Santa Fe, NM 87505
Webmaster  |   EMNRD Legal Disclaimer