New Mexico

Energy Grid Modernization Roadmap and Clean Energy Grant Program

The Grid Modernization Roadmap and Grant Program supports improvements to the New Mexico grid through grants to municipalities, state agencies, educational institutions, and Indian nations, tribes, and pueblos. Grantmaking primarily focuses on smart meters and transmission technologies, but the program guidelines allow for grants for

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Sustainable Building Tax Credit

This tax credit applies to new or renovated sustainable buildings that utilize certain upgrades, such as air source and water source heat pumps, to increase energy efficiency or energy conservation. As of 2021, this tax credit requires a higher level of LEED certification for a

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Geothermal Renewable Energy Credits

This policy allows for geothermal resources, in addition to solar and wind, to receive renewable energy credits which utilities may use to meet certain Renewable Portfolio Standards (RPS) goals. It also allows for biomass resources to receive credits.

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New Solar Market Development Tax Credit

This is an income tax credit given to an individual who purchases and installs a solar thermal or photovoltaic system in a residence, business, or agricultural enterprise in New Mexico. This income tax credit may not exceed $6,000 per taxpayer per taxable year. There is

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Local Option – Renewable Energy Financing District

As of 2009, the Renewable Energy Financing District (REFD) Act allows New Mexico municipalities to create REFDs that repay the costs of renewable energy improvements through assessments on property tax over terms of no more than twenty years. Solar thermal and geothermal systems permanently installed

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Local Option – Solar Energy Improvement Special Assessment Act

The Solar Energy Improvement Special Assessment Act allows New Mexico counties to support solar energy improvement projects for properties, including solar photovoltaics and solar thermal. While a county may not itself fund these projects, the Act allows it to create rules for certifying private financial

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Agricultural Biomass Income Tax Credit

Any taxpayer who owns a dairy or feedlot can be given a tax credit for agricultural biomass transported to facilities generating electricity or making biocrude or other liquid or gaseous fuel for commercial use. This income tax credit will be equivalent to $5.00 per wet

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Renewable Energy Production Tax Credit

This tax credit allows for a person holding the title to a qualified energy generator to receive a tax credit for every kWh of electricity produced. The tax credit rate rises gradually to $0.04 per kWh by the sixth taxable year in which the generator

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