Solar Market Development Tax Credit
ECMD Contact: Mark Gaiser
New Mexico boasts world-class solar energy, ranking second in the nation after Arizona, with the potential to provide 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|
|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)|