{"id":11964,"date":"2021-05-19T13:28:59","date_gmt":"2021-05-19T19:28:59","guid":{"rendered":"https:\/\/www.emnrd.nm.gov\/ecmd\/?page_id=11964"},"modified":"2026-02-05T10:25:48","modified_gmt":"2026-02-05T17:25:48","slug":"solar-market-development-tax-credit-smdtc","status":"publish","type":"page","link":"https:\/\/www.emnrd.nm.gov\/ecmd\/tax-incentives\/solar-market-development-tax-credit-smdtc\/","title":{"rendered":"Solar Market Development Tax Credit (SMDTC)"},"content":{"rendered":"

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Don\u2019t miss out on valuable incentives that support clean energy and reduce your costs.<\/p>\n

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New Solar Market Development Tax Credit Incentive<\/strong><\/h2>\n

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Welcome to the electronic application portal for the New Solar Market Development Tax Credit (NSMDTC). A New Mexico individual taxpayer, corporation or agricultural enterprise who has purchased and installed, on property that he, she, or the corporation owns, or, in the case of a federally recognized Indian nation, tribe or pueblo, holds in leasehold, an operating or substantially complete solar energy system that the department has certified pursuant to this part is eligible for a state tax credit for the tax year in which the system is installed. The tax credit is available for up to 10% of the equipment, materials, and labor costs of a solar energy system, which may not exceed $6,000. dollars. The cost of a solar energy system the department certifies shall be the net cost of acquiring the system and shall not include disallowed costs, pursuant to 3.3.14.14 C. NMAC. The fund year of the solar energy system is determined by the date the building code authority certifies a successful inspection of the solar system.<\/p>\n

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Apply Now<\/strong><\/a><\/h2>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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Overview of tax credit process:<\/strong><\/p>\n

Step 1\u00a0<\/strong>\u2013\u00a0Purchase and install an operating solar energy system.
Step 2\u00a0<\/strong>\u2013 Obtain required documents from installation contractor.
Step 3\u00a0<\/strong>\u2013 Apply for a tax credit here with Energy Minerals and Natural Resources Department (EMNRD).
Step 4\u00a0<\/strong>\u2013 Receive a certificate of eligibility from EMNRD.
<\/span>Step 5\u00a0<\/strong>\u2013 File your tax credit with the New Mexico Taxation and Revenue Department.<\/p>\n

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Please consider reading the\u00a0User Guide<\/a>\u00a0before beginning your application. Before you start an application, review your documents to be sure they are complete. Please allow 3 to 4 weeks to process the completed application. The Department will send certificates of eligibility electronically to the e-mail address provided on the application. The NSMDTC application package requirements in the subparagraph below are dependent on solar energy system location.<\/p>\n

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Application type:<\/strong>\u00a0A completed application package for solar energy\u00a0systems installed in years 2024 and after<\/u> shall remit the following attachments:<\/p>\n

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Required Documents:<\/strong><\/p>\n