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New Mexico Rebates

New Mexico has several solar incentives including renewable energy credits, property and sale tax exemptions and a state income tax credit. Here are the details about the New Mexico Solar Initiative and the rebates available to New Mexico homes and businesses.

New Mexico Solar Incentives Summary

Rebate Type Amount
Federal IRS Energy Tax Credit 30% of total solar installation value
Solar Power Installation Rebate None
Solar Renewable Energy Credits SRECs Xcel Energy: Solar systems up to 10 kW DC receive $0.10 per kWh AC production
PNM: up to 100 kW DC receive $0.05/kWh for RECs
El Paso Electric: up to $0.12/kWh AC for RECs produced for a period of 12 years
Property Tax Exemption 100% for residential solar systems
Sales Tax Exemption 100% of gross receipts from sale and installation of solar energy systems
State Tax Credit 10% of solar installation costs up to $9,000

Buy certified solar panel systems that qualify for New Mexico Rebates Save up to 60%; shop online to skip sales tax too. These home solar kits include every component needed for efficient solar installation including solar panels, grid-ready inverter, roof racking, wiring, hardware, step-by-step instructions and even permit-ready engineering diagrams. Pre-engineered home solar kits are delivered to your door in two to three weeks and can be installed in one or two days.

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List of New Mexico Solar Renewable Energy Efficiency Programs

  • Central New Mexico Electric Cooperative - Residential Energy Efficiency Rebate Program
  • El Paso Electric Company - Residential Efficiency Program
  • New Mexico Gas Company - Residential Efficiency Programs
  • PNM - Energy Star Home Builder Rebate Program
  • PNM - Residential Energy Efficiency Rebate Program
  • Xcel Energy - Residential and Low Income Home Energy Service

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