Get Up to $3,000 Credit to Buy a Clean Car
What vehicles are eligible?
- $55,000 in maximum total value (new vehicles). $25,000 in total value maximum and at least 2 years old (pre-owned vehicles).
- A vehicle purchase or lease must be through a motor vehicle dealer licensed by the New Mexico motor vehicle division.
- A lessee of a vehicle must have entered into a new lease for at least three years.
- A previously owned motor vehicle must have a minimum one-year extended manufacturer’s warranty against defects and repairs.
If you install your own Level 1 or Level 2 charger at your home, you could be eligible for an additional $400 tax credit. These credits are also refundable, so you’ll get the funds even if you have no tax liability for the year. Charging stations must be installed by a licensed electrician and connected to your local electricity network.
The New Mexico Energy, Minerals and Natural Resources Department is inviting public feedback on proposed rules for the state’s new Clean Car Tax Credit program.
The program, enacted during the 2024 legislative session, is designed to incentivize the adoption of electric vehicles (EVs) and the installation of electric vehicle chargers across New Mexico.
Programs Coming Soon
These upcoming programs will offer financial support for various energy-efficient projects and renewable energy installations. Explore the list of what’s coming soon, and be prepared to take advantage of these opportunities as soon as they launch.
Clean Car Income Tax Credit
State tax credit for residential or commercial for purchases of an electric vehicle, plug-in hybrid electric vehicle or fuel cell vehicle, or new leases of at least three years for one of these vehicles.
For more information see our frequently asked questions.
Anticipated Date Program Goes Live: Mid to Late September, 2024
Stay informed about upcoming energy-efficient products!
Sign up now to be notified as soon as they become available and ensure you don’t miss out on the latest innovations for your home or business.