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Solar Market Development Tax Credit (SMDTC)

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Solar Market Development Tax Credit (SMTDC)

EMNRD is in the process of reviewing the provisions in the amendments made to the New Solar Market Development Tax Credit during the 2022 legislative session and will develop new rules. Please see our Public Notices page for updates.

For projects completed in 2021: The annual funding cap for 2021 has been reached. Energy Minerals Natural Resources Department (EMNRD) is no longer accepting 2021 New Solar Market Development Tax Credit (NSMDTC) applications. Applications for certification received after this funding limitation has been met in a calendar year shall not be approved (NMAC 3.3.14.10 C).

For projects completed in 2022 or later: Applicants are encouraged to submit a completed application as soon as their system installation is fully connected and operational that meets all requirements as detailed in NMAC 3.3.14.17 for review by EMNRD within 12 months following the calendar year in which the system was installed. Waiting to the end of the calendar year or until tax filing season may cause the loss of this tax credit due to annual funding limits. The current tax credit allocation is $12 million. Please visit our Solar Market Development Tax Credit Dashboard for information on number of projects certified and amount that has been allocated to date.

EMNRD is not accepting walk-in application drop-offs or walk-in requests for technical assistance. We have installed a secure lockbox outside for application drop-off. Please allow 3-4 weeks for processing of completed applications. Certificates of Eligibility are sent electronically to the email address provided on the application.

Should you have any questions, please contact our office at emnrd.taxcredits@state.nm.us.

How to Apply

For best results, download and save the application form and fill it using one of the following PDF applications which has been tested and verified to produce a form compliant with AcroForm standards. These software are free versions available for many platforms which will produce a file compatible with the “Submission Site -NSMD Income Tax Credit Application” below.

For Adobe Reader go to the Adobe Reader download page

For Foxit Reader go to the Foxit Reader download page