Legislation Introduced to Reinstate New Mexico Solar Tax Credit

Monday, January 16, 2017 - 11:45am

New Mexico state Rep. Matthew McQueen will introduce a bill Tuesday to reinstate the state solar tax credit and adjust the state ceiling. HB 82 calls for an extension of the tax credit that expired at the end of 2016 at 10 percent, gradually phasing down until is sunsets at the end of 2024. The individual project cap would be $9,000. The statewide cap would be $5 million, rather than the previous cap of $2 million for solar thermal systems and $3 million for photovoltaic systems.