New Mexico offers refundable tax credits for residents investing in clean energy, electrification, and sustainable home upgrades. Whether you’re installing solar panels, purchasing an electric vehicle, or improving energy efficiency at home, state incentives are available to help offset costs. While some federal programs are winding down, New Mexico’s initiatives remain robust and well-funded.

EMNRD Tax Credit Programs:

– New Solar Market Development Tax Credit (NSMDTC)

– Clean Car and Charging Unit Tax Credit

– Energy Conserving Products (ECP)

– Sustainable Building Tax Credit (SBTC)

– Advanced Energy Equipment Tax Credit

– Agricultural Biomass Income Tax Credit 

– Geothermal Electricity Generation Tax Credit

– Geothermal Ground Heat Pump Tax Credit (coming soon)