Poulin Solar Pro

Solar Tax Credit

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Solar Installation Project - By Poulin Solar Pro

New Mexico is lucky enough to have multiple tax credits: 1) a gross receipts tax exemption on your entire solar project, and 2) a 10% State Tax Credit towards the purchase of a solar system (see the bill here). Combined with the federal tax credit that saves you 43% on solar installation costs (ending soon), most New Mexico residents can benefit from a 47% credit.

It’s important to note that tax credits are not immediate savings when you pay for your new system. This tax credit may be spread across multiple years if necessary.  Additionally, there are certain requirements that must be met to qualify for the credits.

To ensure that your new solar system will qualify for the tax credit, make sure it meets your local building code requirements and that the model you choose is certified by the Solar Rating and Certification Corporation. Solar Pro can guide you through meeting these requirements.

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