Solar Market Development Tax Credit

ECMD Contact: Mark Gaiser
(505) 476-3318
Mark.Gaiser@state.nm.us

 

New Mexico boasts world-class solar energy, ranking second in the nation after Arizona, with the potential to provide1,000 times more energy than New Mexico's investor owned utilities, and cooperative utilities, presently provide. 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), has ended as of December 31, 2016.

The federal government will pay 30% in a federal tax credit for your solar system through 2019 and lower amounts through 2021.

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 was available annually through 2016. Since its inception in 2006 through 2016, the STC has supported the deployment of 220 million BTUs per day of clean heating energy and 40 megawatts of clean electricity. Over the life of the STC, a significant increase in economic activity for solar, electrical, mechanical and plumbing business has occurred.

 

Questions to ask any solar energy dealer and installer include:

What experience and certifications do they have?

How long have they been in business?

What do they know about local zoning, electrical requirements, and codes?

Are the installers NABCEP certified?

Will they handle paperwork for federal, state, and utility incentives?

Do they offer maintenance service?

Are they a member of any solar trade organization, such as the Solar Energy Industries Association?

What warranties do they offer?

What payment options are available?

Is the offer for an outright purchase of the system, a lease of a system, or a Power Purchase Agreement?

 

Tax Forms for Filing

Solar Market Development Income Tax Credit Claim Form RPD 41317 (revision 7/15/2015)

2016 PIT-CR Form - Non-Refundable Credit Reporting
Solar Federal Form 5695 - Residential Energy Credits
 
Additional Information
Rules for Solar Tax Credit
Solar Gross Receipts Tax Exemption
Property Tax Exemption for Solar Systems
Protect Your Solar Rights (brochure)
Video: Clean Renewable Solar Energy for Your Home - You Can Do It     (Videos will Download)
Video: How to Invest In a Solar System for Your Home
Federal Solar Energy Incentives - Frequently Asked Questions (from Solar Energy Industries Association)
2016 SMDTC for PV Systems Ended as of June 15, 2016
The SMDTC program for PV systems and Solar Thermal systems has ended. Applications received after June 15, 2016 will be returned to the applicant.

April 14, 2016 Press Release: Applications for Solar Tax Credit Pouring In

2014 Solar Tax Credit Data:

New Mexico Energy, Minerals and Natural Resources Department | Copyright
1220 South St. Francis Drive | Santa Fe, NM 87505
Webmaster  |   EMNRD Legal Disclaimer