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.
New ECMD forms July 2015 - Previous versions will continue to be accepted, but the new forms are preferred.
|Solar System Certification Application Checklist - Form 0|
|Solar System Certification Application - Form 1|
|Solar System Installation - Form 2a|
|Solar System Installation - BCA - Form 2b|
|Taxpayer and Contractor Statement of Understanding - Form 3|
|Tax Forms for Filing|
|Solar Market Development Income Tax Credit Claim Form RPD 41317|
|Solar Federal Form 5695 - Residential Energy Credits|
|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|
|Video: How to Invest In a Solar System for Your Home|
|Federal Solar Energy Incentives - Frequently Asked Questions (from Solar Energy Industries Association)|
2016 Solar Tax Credit Data
|2016 SMDTC Tracker as of May 13, 2016|
|212||Applications Approved for TY 2016|
|$2,753.04||Average Tax Credit Approved|
|323||Projected # of Applications Still Available for TY 2016|
|$888,416.21||Projected Tax Credit Remaining for TY 2016|
|Friday, July 8, 2016||Projected Last Day to Submit and Qualify for Tax Year 2016 PV Applications|
|The SMDTC program for PV systems will end when the 2016 allotment of tax credits is issued. Applications received after the allotment is reached will be returned to the applicant.|
April 14, 2016 Press Release: Applications for Solar Tax Credit Pouring In
2014 Solar Tax Credit Data: