Current Incentives & Rebate Programs
New Mexico residents can now access a range of programs designed to help you save on energy costs and make your home or business more sustainable. Whether you’re interested in upgrading to energy-efficient appliances, installing solar panels, or making other improvements, there are rebates and tax credits available to support your efforts.
Explore the programs below to find out how you can benefit from these incentives and start saving on your energy bills today.
Let’s get started by discovering the energy-efficient product rebates you qualify for!
Ready to save on energy costs? Use our Eligibility Wizard to discover which energy-saving products and rebates you qualify for. It’s easy to find out what incentives are available to help you upgrade your home or business. Start now and see how much you can save!
Home Electrification and Appliance Rebates (HEAR)
Point-of-sale rebates for income eligible households on electric appliances and select home improvement projects , which can lower energy bills
The HEAR rebate can be used to save money on select home improvement projects that lower energy bills. New Mexico homeowners or renters who earn below 80% of Area Median Income (AMI) or who participate in certain benefit programs can participate. Please note, the program is being launched in phases, so not all products are available yet. Purchases and installations made before rebates are officially available in New Mexico are not eligible.
When is the Program Available
Now
Energy Conserving Products (ECP)
Tax incentive for homeowners and businesses for the installation of energy efficient products and electrification measures in existing homes and businesses
A New Mexico property owner may apply for the 2021 Sustainable Building Tax Credit for ECPs from the Energy, Minerals and Natural Resources Department (EMNRD) after the installation of energy conserving products in an existing New Mexico building. Energy Conserving Products (ECP) must meet Energy Star performance values or equivalent performance values for the climate zone in which the products are installed.
When is the Program Available
Now
Sustainable Building Tax Credit (SBTC)
Tax incentive for cutting-edge sustainable building practices, as well as energy-efficient products and appliances
There are two types of tax credits available under the program—one for installation of certain energy-efficient products in existing residences and another for commercial renovation and new construction projects.
When is the Program Available
Now
Agricultural Biomass Income Tax Credit (Biomass)
tax incentive for agricultural biomass (most commonly cow manure) transported off a farm and to a biodigester facility
The Agricultural Biomass Income Tax Credit is available to taxpayers filing a personal income tax return for taxable years beginning on or after January 1, 2011 and ending prior to January 1, 2030. Certificates of transportation pursuant to 3.3.33 NMAC (personal) and 3.4.20 NMAC (corporate) may be issued by EMNRD for agricultural biomass transported during taxable years beginning on or after January 1, 2011 and ending prior to January 1, 2030.
When is the Program Available
Now
New Solar Market Development Tax Credit (SMDTC)
Tax incentive for solar panel systems installed in 2024 and beyond
The New Mexico New Solar Market Development Tax Credit (NSMDTC) offers tax credits against New Mexico state personal income tax for purchasing and installing solar systems on residences, businesses, and agricultural enterprises in New Mexico. The tax credit provides up to 10% of the purchase and installation costs of a solar thermal or photovoltaic system, up to $6,000 per taxpayer per taxable year.
When is the Program Available
Now
Ready to Claim Your Product Rebate?
Curious about which energy-saving products and rebates you can take advantage of? Try our Eligibility Wizard to quickly see what’s available for your home or business. It’s a simple way to unlock potential savings and start making your space more energy-efficient today!
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 (HER)
Point-of-sale rebates for income eligible households on electric appliances and select home improvement projects , which can lower energy bills
The HER rebate can utilized to save money on select home improvement projects that lower energy bills. New Mexico homeowners or renters who earn below 80% of Area Median Income (AMI) or who participate in certain benefit programs.
When is the Program Available
Late Fall 2024
Clean Cars and Charging Units Tax Credit
Tax incentive for New Mexico residents and New Mexico commercial businesses to purchase clean energy vehicles from New Mexico dealerships
This tax credit is a personal and business income tax credit for electric vehicles, plug-in hybrid electric vehicles and other zero-emission vehicles, as well as for home and commercial electric vehicle chargers.
When is the Program Available
Early Fall 2024
Solar for All Program
Program advancing access to solar energy resources in New Mexico; specifically focused to serve income eligible New Mexicans
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 billon 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.
When is the Program Available
Summer 2025