[et_pb_section fb_built=”1″ _builder_version=”4.16″ _module_preset=”ce4db8ec-b34b-42ae-b247-103d0a13f28d” global_colors_info=”{}”][et_pb_row _builder_version=”4.16″ _module_preset=”1d9c0f5d-35f2-480d-b415-624f9e38b5a0″ global_colors_info=”{}”][et_pb_column type=”4_4″ module_class=”vertical-align” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_post_title meta=”off” featured_image=”off” _builder_version=”4.16″ _module_preset=”default” title_text_color=”#030303″ custom_margin=”||0px||false|false” global_colors_info=”{}”][\/et_pb_post_title][et_pb_dmb_breadcrumbs font_icon=”%%20%%” use_home_icon=”off” _builder_version=”4.16″ _module_preset=”default” body_text_color=”#030303″ body_font_size=”18px” link_text_color=”#030303″ global_colors_info=”{}”][\/et_pb_dmb_breadcrumbs][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ specialty=”on” module_class_1=”sidebar” disabled_on=”off|off|off” _builder_version=”4.16″ _module_preset=”default” inner_width=”90%” inner_max_width=”1400px” global_colors_info=”{}”][et_pb_column type=”1_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_blurb title=”Explore Section” use_icon=”on” font_icon=”||divi||400″ icon_color=”#ffffff” icon_placement=”left” image_icon_width=”14px” content_max_width=”100%” disabled_on=”off|off|on” module_class=”blurb-icon-right sidebar-toggle” _builder_version=”4.16″ _module_preset=”c520cd6f-2a5a-44ab-ba51-0c6b314ff487″ header_font=”|600|||||||” header_text_color=”#ffffff” header_font_size=”13px” header_line_height=”1.3em” body_font=”||||||||” body_text_color=”rgba(40,39,40,0.7)” body_font_size=”12px” body_line_height=”1.3em” background_color=”#1D4784″ use_background_color_gradient=”on” background_color_gradient_direction=”145deg” background_color_gradient_stops=”#1d4784 0%|#0585a5 100%” background_color_gradient_start=”#1d4784″ background_color_gradient_end=”#0585a5″ max_width=”100%” module_alignment=”center” custom_margin=”||14px||false|false” custom_padding=”12px|4px|12px|16px|true|false” border_radii=”on|6px|6px|6px|6px” border_width_bottom=”1px” border_color_bottom=”#dedede” icon_font_size=”14px” global_colors_info=”{}”][\/et_pb_blurb][et_pb_sidebar area=”et_pb_widget_area_3″ module_class=”sofia-light nav-side” _builder_version=”4.16″ _module_preset=”default” body_text_color=”#212121″ body_font_size=”15px” body_line_height=”1em” global_colors_info=”{}”][\/et_pb_sidebar][\/et_pb_column][et_pb_column type=”3_4″ specialty_columns=”3″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_row_inner _builder_version=”4.16″ _module_preset=”default” custom_padding=”||1em||false|false” global_colors_info=”{}”][et_pb_column_inner saved_specialty_column_type=”3_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n
The Renewable Energy Production Tax Credit (REPTC) [NMSA 1978, \u00a7 7-2A-19] has sunset, but created a significant incentive for economic development in New Mexico, attracting utility-scale renewable energy developers to the state and assisting utilities in meeting state Renewable Portfolio Standard (RPS) requirements. For wind and biomass projects it offers a one cent per kilowatt-hour (kWh) tax credit and for solar it averages 2.7 cents per kWh. EMNRD administers this incentive and developed the rule which has been instrumental in the expansion of wind and solar resources.<\/p>\n
The rule (3.13.19 NMAC) has been revised periodically with public input to reflect amendments to the statutes and developments in the industry. The more notable amendments (2003 HB 146; 2005 HB 950; 2007 SB 463) to the statutes have been the reduction of the minimum qualified electricity generator size to 1 MW, adding biomass as an eligible resource, adding a tax credit dedicated solely to solar, and making the credit refundable for solar. To be eligible for a tax incentive, the qualified electricity generator needed to produce electricity by January 1, 2018.<\/p>\n
ECAM reviews and approves the production allocation of tax credits among investors in utility-scale wind and solar PV systems installed under this Act until 2026 when the program expires. This requires the review and verification of energy production information for the New Mexico Taxation and Revenue Department. Changes are allowed only once per year.<\/p>\n
[\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][\/et_pb_column][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"
Renewable Energy Production Tax Credit (REPTC) The Renewable Energy Production Tax Credit (REPTC) [NMSA 1978, \u00a7 7-2A-19] has sunset, but created a significant incentive for economic development in New Mexico, attracting utility-scale renewable energy developers to the state and assisting utilities in meeting state Renewable Portfolio Standard (RPS) requirements. For wind and biomass projects it […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":11953,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-11962","page","type-page","status-publish","hentry"],"yoast_head":"\n