Current Incentives & Rebate Programs
Discover a range of exciting incentive and rebate programs designed to support your sustainable energy goals. Explore the list of available programs below to find the perfect fit for your needs.
Sustainable Building Tax Credit / Energy Conserving Products (ECP)
The Sustainable Building Tax Credit offers financial incentives for incorporating energy-efficient and environmentally friendly features into buildings. Energy Conserving Products (ECP) are key components of this program, requiring items to be ENERGY STAR rated and meet specific insulation standards. By using ECPs, individuals and businesses can reduce energy consumption and qualify for tax benefits.
Eligibility Requirements
- Energy-conserving products must reduce the energy consumption of a residential or commercial building.
- Products must contribute towards the electrification of sustainable buildings with ENERGY STAR heat pump furnaces and water heaters.
- Products must be ENERGY STAR rated for the location installed.
- Products must meet the insulation requirements outlined in 3.3.35.14 or 3.4.22.11 NMAC.
How to Apply
You can submit an electronic application with the Energy, Minerals Natural Resources Department for products installed from January 1, 2021, onward for taxable years before January 1, 2028, as long as the tax credit is still available. The department will review your documentation before issuing a certificate of eligibility for the 2021 Sustainable Building Tax Credit for ECPs. If the annual cap for this tax credit has been reached, you’ll receive a certificate of eligibility for the next year with available funds.
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.
Home Energy Rebates
The HER Program will offer low-income New Mexicans rebates on home energy efficiency upgrades. New Mexicans who earn less than 80% AMI or participate in certain means-tested programs qualify. New Mexico has allocated 75% of rebates to single-family homes and 25% of rebates to multi-family homes.
Date Program Goes Live: TBA
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