How to Save Money on Your Monthly Bills with Albuquerque Solar Incentives
When you decide to switch to solar, there are many additional ways to save money on your installation, should you qualify. In Albuquerque, New Mexico, there are many options for you to research. Additionally, Meraki Solar offers zero-down solar on all qualifying projects, which can make the switch to solar more accessible than ever.
- Federal Solar Investment Tax Credit: Due to the Inflation Reduction Act, the 26% federal tax credits for your new solar energy system have been raised to 30% of the cost, which qualifying homeowners may apply to new installs
- As per the US Department of Energy’s website, solar PV systems installed are eligible for a 26% tax credit
- New Mexico Solar Market Development Tax Credit: The State of New Mexico has a very generous 10% tax credit for up to $6,000 on your state income tax which applies to all Albuquerque, NM, residents who pay state income tax
- New Mexico Net Metering: New Mexico has a policy that credits you for the extra energy your solar system produces, which may result in you receiving financial compensation from the energy companies