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$30M Yearly Cap Boosts Solar Tax Incentives in New Mexico: Expanding Access to Native American Lands!

New Rules Offer Solar Tax Incentives

Boosting Solar Tax Incentives Adoption

According to AOL, New Mexico has introduced fresh solar tax incentives regulations to support the adoption of solar energy offering tax incentives for individuals interested in installing solar power systems. The state has witnessed rapid growth in solar power with a considerable number of megawatts already in place. These new solar tax incentives regulations are designed to promote greater adoption of solar energy aiming to incentivize more individuals to transition to solar power and enjoy cost savings.

READ ALSO: Fueling The Future: Hydrogen Industry Calls For Streamlined US Tax Credits

$30M Yearly Cap Boosts Solar Tax Incentives in New Mexico: Expanding Access to Native American Lands! (PHOTO:

Expanding Access to Solar Tax Incentives in New Mexico

If you want to get these solar tax incentives in New Mexico you can apply online. First, you need to buy and install a solar energy system and get proof from the contractor. Then, you apply online and get a certificate of eligibility. Finally, when you file your taxes you can claim the solar tax incentives with the Taxation and Revenue Department. The new rules also increase the amount of money available for tax credits. They’ve raised the cap to $30 million per year until 2032. This means more people can get solar tax incentives to help them pay for solar installations. Plus the rules now allow solar projects on Native American lands to qualify for these solar tax incentives making solar energy more accessible to everyone in New Mexico.

READ ALSO: Boosting Educational Futures: Proposed Expansion Of 529 TAP Tax Credit

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