Buyer's Guide 2024
Solar Energy Gross Receipts Tax Deduction
Solar & Battery Regulation & Incentive Programs
Program Overview
- Category
- Financial Incentive
- Program Type
- Sales Tax Incentive
- Implementing Sector
- State
- State
- New Mexico
- Eligible Storage Technologies
- Solar - Passive, Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Photovoltaics
- Incentive Amount
- 100% of gross receipts from sale and installation of solar energy systems, dark-colored water tanks, and non-vented trombe walls
- Maximum Incentive
- None specified
- Equipment Requirements
- Equipment necessary for the sale and installation of a solar energy system includes an essential machine, mechanism, or tool, or a component or fitting used directly and exclusively in the solar energy system, and includes replacement of some part of the system, or similar change to the system that would qualify as an adjustment for federal income tax purposes as established under the applicable provisions of the Internal Revenue Code of 1986. Additionally, equipment is limited to components and systems related to storage and collection of solar energy. A solar energy system does not include components or systems related to the uses of the energy.
- Administrator
- New Mexico Energy, Minerals and Natural Resources Department
- Applicable Sectors
- Commercial, Construction, Residential, Installers/Contractors, Retail Supplier
- Budget
- Start Date
- 07/01/2007
- Last Updated
- 09/21/2021
- Funding Source
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