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New Mexico Preparing for Surge in Applications for Solar Tax Credit Program After Passing House Bill 252
House Bill 252 Opens Doors for Tribal Property Owners to Access Solar Tax Credits in New Mexico
According to the report of KRQE, the New Mexico Energy, Minerals, and Natural Resources Department are getting ready for lots of people to apply for the updated Solar Tax Credit program. This comes after the state passed a big tax bill called House Bill 252. This bill not only raises the yearly limit on tax credits but also lets tribal property owners join in. There also twenty million dollars set aside for people who got rejected before showing the state really wants to make solar energy more available.
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House Bill 252 Expands Eligibility Increases Cap and Offers $20M for Rejected Applicants (PHOTO: KRQE)
Empowering Renewable Energy Adoption Post-House Bill 252
With the Solar Tax Credit program people can get tax breaks for up to 10% of the cost of putting in solar panels. Right now, you can apply if you had solar panels installed in 2024 through the EMNRD website. This is a good chance for families in New Mexico and tribal communities to use cleaner energy and get some money back. Expanding the Solar Tax Credit program shows New Mexico commitment to using more renewable energy and less fossil fuels.
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