GOING SOLAR IN THE LAND OF ENCHANTMENT
Why go solar in New Mexico
New Mexico is known for its enchanting landscapes and culture. It is also known for being a leader in solar energy. State legislature is requiring 100% of all energy generated to come from renewable sources by 2045. Going solar helps offset greenhouse gas emissions and prevent pollution. The state wants you to go solar so they are offering some of the best incentives in the nation! Join over 279,900 other homeowners* and take advantage of incentives such as net metering, solar payments, and tax credits.
Solar incentives in New Mexico*
In New Mexico you can qualify for the Sustainable Building Tax Credit if your home is certified sustainable by the U.S. Green Building Council. The value of the credit is determined by your certification level, up to $6.50 per square foot, and represents one of the most generous green building programs in the country.
The New Mexico solar tax credit can reduce your state tax payments by up to $6,000 or 10% off your total solar energy expenses (whichever is lower). If you are a customer of PNM they’ll pay you $0.0025 per Kwh produced for a term of 8 years. Some New Mexico utilities also offer net metering to eligible customers.
New Mexico homeowners are also eligible for the Solar Investment Tax Credit (ITC).**** The ITC allows you to deduct 26 percent of the cost of installing a solar energy system from your federal taxes.
Solar panels perform in all kinds of weather
Going solar is a big decision, and although there are many factors you should consider, local weather shouldn’t be a deterrent. Solar panels are designed to work in almost any type of weather… even snow and clouds!
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*This information is current as of May 5, 2021 and figures are approximations. Customers are encouraged to check with their local utility providers for the most up to date and accurate information.
**This figure is current as of Mary 5, 2021 and is only an approximation. We advise you to consult with the appropriate professionals (including, but not limited to, your solicitor or attorney, accountant, CPA, CGA, or any other financial or legal advisor) for the implications of any information contained in our website and in any link you access through our website.
***Customers are encouraged to check with their local utility providers for the most up to date and accurate information regarding available solar incentives and programs.
****You should contact a qualified tax expert and consult with them. Neither Freedom Forever’s family of independent authorized dealers nor Freedom Forever itself can give you tax advice. A qualified tax professional will understand your situation and be able to give you the most relevant advice.