New Mexico solar tax credit going, going, gone
By Alexis Deprey
For the Bulletin
Hundreds of New Mexicans are going solar and taking advantage of the New Mexico Development Solar Tax Credit (more commonly known as the solar state tax credit). While the state tax credit does not expire until the end of 2016, the 3-million-dollar budget established by the state legislature will be expended shortly.
Tax credit funds are allocated on a first come, first served basis as solar installations are completed and applications are submitted to the state. The New Mexico Energy Minerals and Natural Resources Department (EMNRD) administers this tax credit and forecasts that applications submitted by July 8 will most likely receive the solar tax credit.
Even without the solar state tax credit, investing in solar continues to produce a great return. The 30 percent Federal Income Tax Credit is scheduled to be in full effect through 2019 and is not budget limited. In addition, the prices of panels and installation are at an all-time low, which continues to make going solar a smart move.
“The sun is a tremendous resource in the Land of Enchantment,” said Regina Wheeler, CEO of SunPower by Positive Energy Solar. “At SunPower by Positive Energy Solar, we look forward to helping New Mexicans get clean, affordable energy and take control of a seemingly uncontrollable expense – their electric bill.”
About SunPower by Positive Energy Solar
SunPower by Positive Energy Solar is a local, employee-owned, Certified B Corp solar installer. The company offers high performance solar energy solutions for residential, commercial, governmental and non-profit customers in New Mexico. For more information, visit www.positiveenergysolar. com.