facebook app symbol  twitter  linkedin  instagram 1

Now that Governor Lujan Grisham has signed omnibus tax package for 2024 into law, the New Mexico Energy, Minerals and Natural Resources Department (EMNRD) is preparing to accept a new wave of applications for its Solar Market Development Tax Credit Program. There was a provision for tribal citizens.

The 2024 tax omnibus, House Bill 252, contains provisions that make the existing solar tax credit available to more New Mexicans. Those provisions include:

  • Ensuring that tribal members who hold property in leasehold are eligible for the credit.
  • Raising the annual cap on the total amount of credits that can be issued to $30 million per tax year.
  • Making $20 million in tax credits available to individuals whose applications were rejected after the cap was reached in previous years (tax years 2020 through 2023).

Never miss Indian Country’s biggest stories and breaking news. Sign up to get our reporting sent straight to your inbox every weekday morning. 

First enacted in 2020, the Solar Market Development Tax Credit Program offers a tax credit up to 10% on solar system installation costs for qualified solar thermal and photovoltaic (PV) systems, up to a maximum of $6,000 per taxpayer per year.

Over the past three years, EMNRD was forced to reject hundreds of solar tax credit applications because the previous annual caps were quickly reached.

Since the program’s inception, more than 12,000 New Mexicans have received tax credits averaging $3,081.00 per credit. EMNRD estimates these New Mexicans have each saved an average of $1,624.00 per year in energy costs while adding more than 100 MW of distributed solar generation to the state’s power grid.

EMNRD staff has started a required process to update the administrative rules for the program, including writing new sections of the rule which apply to the $20 million in credits available for taxpayers who missed out on receiving a credit for solar systems installed between 2020 and 2023. That process will include publishing proposed rules for public comment. 

Applications are currently being accepted for solar systems installed in 2024 on the EMNRD website. The aggregate cap on credits for the 2024 tax year is now $30 million.

“We are thrilled that the Governor and legislature enacted these new provisions to this incredibly popular program,” said Dylan Fuge, Deputy Secretary at EMNRD, which certifies systems for eligibility under the tax program.

“We have some groundwork to do before we can begin accepting applications based on these new provisions,” said Rebecca “Puck” Stair, director of EMNRD’s Energy Conservation and Management Division (ECMD). “We are already hard at wo

More Stories Like This

Former NCAI President Fawn Sharp Appointed to Nature Conservancy Board
New Interagency Agreement Supports Water Tribal Water and Sanitation Projects
Biden Unrolls Multi-Million Dollar Solar Grant on Earth Day, More to Come Throughout Week
Native American Rights Fund Gets $100K For Tribal Eco-Stewardship Legal Support
Indigenous Peoples Rush to Stop ‘False Climate Solutions’ Ahead of Next International Climate meeting

Native Perspective.  Native Voices.  Native News. 

We launched Native News Online because the mainstream media often overlooks news that is important is Native people. We believe that everyone in Indian Country deserves equal access to news and commentary pertaining to them, their relatives and their communities. That's why the story you’ve just finished was free — and we want to keep it that way, for all readers.  We hope you'll consider making a donation to support our efforts so that we can continue publishing more stories that make a difference to Native people, whether they live on or off the reservation. Your donation will help us keep producing quality journalism and elevating Indigenous voices. Any contribution of any amount — big or small — gives us a better, stronger future and allows us to remain a force for change. Donate to Native News Online today and support independent Indigenous-centered journalism. Thank you.

About The Author
Native News Online Staff
Author: Native News Online StaffEmail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Native News Online is one of the most-read publications covering Indian Country and the news that matters to American Indians, Alaska Natives and other Indigenous people. Reach out to us at [email protected].