How to Save Money on Your Energy Bills with Santa Fe, NM Solar Incentives
Because of Santa Fe and New Mexico state solar incentives, renewable energy is an excellent move in this state! You could regain control of your home’s power system by upgrading to solar energy. Additionally, with exciting homeowner incentives, you will likely love how much a solar installation may even enhance your home value and household finances.
- Federal Solar Investment Tax Credit: Due to the Inflation Reduction Act, the 26% federal tax credits for your new solar energy system have been increased to 30% and extended to be possible for new installs
- As per the US Department of Energy’s website, solar PV systems are eligible for a 26% tax credit
- New Mexico Solar Market Development Tax Credit: The State of New Mexico has a generous 10% tax credit for up to $6,000 on your New Mexico state income tax that applies to all NM residents who pay state income tax
- That’s just one solar incentive New Mexico furnishes to make the economics of going solar irresistible to homeowners in the right situation with the finances to undertake the project
- New Mexico Net Metering: This policy credits you for the extra energy your solar system produces, which you may get paid back for by your power company