New Mexico Offers Second Chance for Solar Tax Credits
NEW MEXICO – New Mexico taxpayers who missed out on solar tax credits have a new opportunity to benefit from the program. The state has introduced supplemental funding to assist those who were previously denied credits under the New Solar Market Development Tax Credit Program between 2020 and 2023 due to the program reaching its financial cap.
Eligible taxpayers can now receive a credit for up to 10% of their solar installation costs, with a maximum annual credit of $6,000. For more details, visit the Energy, Minerals and Natural Resources Department (EMNRD) website.
