NM energy department expecting boost in Solar Tax Credit applicants

NEW MEXICO (KRQE) – The New Mexico Energy, Minerals and Natural Resources Department (EMNRD) says it’s gearing up for an influx of applications for the updated Solar Tax Credit program. The omnibus tax bill (House Bill 252) that cleared the legislature this past session raises the annual cap on tax credits and makes tribal property owners eligible.

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Twenty million dollars is also available for applicants rejected in the past. The program offers tax credits for up to 10% of the solar system’s installation costs. Applications are currently being accepted for solar systems installed in 2024 on the EMNRD website.

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