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.
New Solar Market Development Income Tax Credit (NSMDTC)
New Mexico offers a state tax credit for individuals, corporations, and agricultural enterprises that install a solar energy system on their property. Whether you own the property or, for federally recognized Indian nations, tribes, or pueblos, hold it in leasehold, you can receive a 10% tax credit, up to $6,000.
Eligibility Requirements
A NM taxpayer who has purchased and installed a solar thermal or solar photovoltaic system, as long as:
- The taxpayer is not a dependent of another individual.
- The taxpayer must have purchased and installed a solar thermal system or a photovoltaic system on or after March 1, 2020 (the date the new solar market development tax credit went into effect).
How to Apply
Applicants must submit an electronic application with supporting documents to the Energy Minerals and Natural Resources Department (EMNRD) within one year of the taxable year of the solar energy system installation, or until funds are exhausted, whichever comes first. Complete applications are reviewed in the order received, checking for content accuracy and fund availability.
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.
Solar for All
“Solar for All” is a U.S. Environmental Protection Agency (EPA) program designed to make solar power available to low-income households across the country. The program is allocating a total of $7 billion nationwide to fund solar systems for households that otherwise might not be able to access this clean, renewable form of energy. The State of New Mexico was awarded a $156 million Solar for All grant in April 2024. The Energy, Minerals and Natural Resources Department is administering New Mexico’s Solar for All program.
Date Program Goes Live: May 1, 2025
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