New Mexico Residential Solar Incentives


Federal Incentives:

Name: Federal Renewable Energy Tax Credit
Responsible Authority: U.S Department of Treasury
Eligibility: All Solar Projects
Description: Allows for the owner of a residential photovoltaic system to recapture 30% of the system cost through a personal tax credit against their Federal income taxes for the year in which the system was put into operation
Limitations/Expiration: Expires 12/31/2016

New Mexico Incentives:

Name: Gross Receipts Tax Exemption
Responsible Authority: New Mexico Energy, Minerals, and Natural Resources Department/ New Mexico Taxation and Revenue Department
Eligibility: All solar systems
Description: Receipts from the sale and installation of solar energy systems may be deducted from gross receipts.
Limitations/Expiration: Exemption will be repealed in 2017

Name: Solar Market Development Tax Credit
Responsible Authority: New Mexico Energy. Minerals, and Natural Resources Department/ New Mexico Taxation and Revenue Department
Eligibility: All solar systems
Description: Allows for a 10% of system costs tax credit against personal income tax. The credit is capped at $9,000 and can be carried forward 10 years
Limitations/Expiration: Expires in 2016

Utility Incentives:


Name: PNM Small PV Program
Responsible Authority: PNM
Eligibility: Photovoltaic Solar Systems lOkW or less
Description: PNM will pay customers with on-site solar systems $.13 for every kilowatt hour produced for a period of 12 years. This payment is in exchange for the Renewable Energy Certificates produced by the solar system. PNM will credit excess energy produced by the system to future bills.
Limitations/Expiration: Currently none, REC contract is for 12 years

Name: Xcel Energy Solar Rewards For Small Systems
Responsible Authority: Xcel Energy
Eligibility: Xcel Energy customers with solar systems between 0.5kW and lOkW
Description: Xcel Energy will pay customers with on-site solar systems $.20 for every kilowatt hour produced for a period of 14 years. This payment is in exchange for the Renewable Energy Certificates produced by the solar system.
Limitations/Expiration: Currently none, REC contract is for 14 years


Name: El Paso Electric Small PV Program
Responsible Authority: PNM
Eligibility: Photovoltaic Solar Systems lOkW or less
Description: EPE will pay customers with on-site solar systems $.13 for every kilowatt hour produced for a period of 12 years. This payment is in exchange for the Renewable Energy Certificates produced by the solar system. EPE will credit excess energy produced by the system to future bills