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

Please note:

New Mexico State law requires certain documents—such as proof of ownership, inspection reports, and system specifications—to verify eligibility for New Mexico’s energy and conservation tax credits. Our division has reduced these requirements to the minimum allowed by statute and transitioned to a streamlined online system to make the process faster and more accessible. ECAM strongly recommends that applicants review the user guide for their specific credit before starting an application. Applicants who need assistance or help locating documents are welcome to visit our office or contact our team at emnrd.taxcredits@emnrd.nm.gov.