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New Mexico Incentives

123SolarPower offers you access to the largest network of industry-leading solar power installation experts in the U.S. and Canada. We offer businesses and residents access to the best renewable energy solutions on the market today. With hundreds of locations across North America, our team is committed to providing innovative solar sales, consultation, and solar panel installation New Mexico services. Our New Mexico division wants to make solar panels for sale New Mexico affordable for all homeowners and businesses.

New Mexico Solar Power

New Mexico is a real hot spot for solar power. The state is ranked third in the country for photovoltaic systems, generating a whopping 72 MW as of mid-2014. New Mexico is also considered one of the U.S. leaders in solar policy and is an attractive investment location. Solar panels New Mexico are capable of saving residents almost $140 per month, or about $33,000 over 20 years. This combined with the falling costs of solar systems on a national level makes New Mexico a state with a very high return on investment in solar technologies. Solar panels New Mexico are capable of saving residents almost $140 per month, or about $33,000 over 20 years. New Mexico is a real hot spot for solar power.

Notable solar installations in New Mexico include the Cimarron Solar Facility which was completed in 2010 by First Solar. This 30MW photovoltaic system can generate enough power to fuel over 6,000 homes. The Macho Springs Solar Project was recently completed in 2014 by First Solar, and has the capacity to generate enough power for 10,000 plus homes.

New Mexico Tax Incentives

A wide variety of state tax incentives are available to businesses and homeowners interested in going solar. The Solar Energy Gross Receipts Sales Tax Deduction amounts to 100% of gross receipts from the sale and solar panel installation New Mexico. The Solar Market Development Tax Credit and the Sustainable Building Tax Credit each amount to 10% of purchase and installation costs of eligible solar systems. Additionally, residential solar energy systems are exempt from property tax increased value assessments in most cases.

Federal Tax Incentives

U.S. federal tax incentives are also available to residents and businesses who invest in renewable energy systems such as solar power. Originally enacted by The Energy Policy Act of 2005, a 30% investment tax credit is available for the installation and use of photovoltaic, solar heating and cooling, and concentration systems. These tax credits are designed to encourage residential and commercial use of renewable energy sources.

The 30% tax credit was made available through 2016 due to an extension of the original law in 2008. What’s more, any credits that your system generates beyond your income tax can be rolled over into next year’s tax return. Filing for the tax credit is as easy as including an additional form (IRS form 5695) with your yearly tax return. There has never been a better time to buy solar panels New Mexico!

Help For All New Mexico Residents

123SolarPower is the top solar sales and installation expert in New Mexico. For professional service and access to top of the line equipment, the 123SolarPower team is your number one resource. We are ready to provide your home or business with the latest in solar power solutions. Whether you are looking for solar panels Albuquerque or any other city in New Mexico we’ve go you covered. Get started today by receiving free custom sales and installation costs from our local experts. Just fill out the form above or call us at 800-294-2397 to be connected with a solar power expert who can walk you through the energy and financial savings available in New Mexico. Get started today by receiving free custom sales and installation costs from our local experts.

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Frequently Asked Questions

When making any modifications to the home, questions always arise. In order to discern whether adding solar panels is a good idea for a given home, having answers to the most frequently asked questions can help. These answers can not only help a homeowner decide whether or not to install solar panels on their home, but they may also help to alleviate some fears and/or concerns that homeowners have about solar power.

Will solar panels benefit my home if I do not have constant access to the sun?

It is a myth that only sunny places like California and Hawaii can benefit from the installation of solar panels. While solar panels do generate more power in areas that have more access to the sun, there are solar panels that are capable of capitalizing on diffused solar rays. These are the kind of solar rays that fall on overcast days.

What incentives are available to me?

There are many incentives in place to help convince homeowners to install solar panels. For example there are tax credits at both the state and federal levels. While the tax credit value varies by state, to the credit ranges to upwards of 25% on installation up to $1,000. Furthermore, most solar power devices are sales tax exempt. The federal tax credit is 30% on installation with no limit. For more information about tax incentives in your state, call 800-294-2397 to speak with a solar consultant.

What is the difference between on the grid and off the grid?

On the grid refers to one still being attached to the electric grid and essentially creates a solar/electric hybrid system. Off the grid refers to relying solely on solar power as the home is completely disconnected from any electric grid.

While solar panels may be expensive to install, the long-term savings (both personally and as a member of society) really outweigh the upfront costs. Moreover, the tax breaks available (through 2016) can also help to recoup some of the costs.

Adding solar panels to your home can benefit you in many ways—including tax credits and a decrease in your electric bill. For more information, please complete the online form or call 800-294-2397.

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