NM Enacts Solar Tax Credit
Mar 09, 2006New Mexico NCEL participant Senator Dede Feldman reports that the Governor has signed into law her bill, SB269, creating a solar tax credit for solar electrical and thermal systems. The credit is expected take about 30% off the cost of a typical residential solar system.
“New Mexico has long been known as the state with the most sunshine—now we’re putting it to good use,” said Sen. Feldman. “This credit will benefit homeowners, now struggling with high home heating bills. It will boost economic development, and encourage more solar industry like Advent Solar, which will bring thousands of jobs to the state. And most important, it will reduce our dependence on foreign oil and help build a safer future for our children.”
Article regarding the bill can be found at:
Santa Fe New Mexican: Governor signs solar tax credit, education bills, March 3, 2006
Santa Fe New Mexican: Senate OK's solar tax credit, February 13, 2006
For more information on what other states have done to promote solar energy, visit the Database of State Incentives for Renewable Energy.