New Mexico Solar State Tax Credit Extension 2017
This 2017 legislative session will be back to business this Tuesday January 17th 2017 and you need to know that the Solar New Mexico Tax Credit is trying to be extended this session. Sarah Maestas Barnes has Pre-filed House Bill 61 to extend the Solar Market Tax Credit and in the Senate they have filled SB41 suported by Mimi Stewart, Matthew McQueen and Sarah Maestas Barnes. This tax credit expired in the summer of 2016 and was never extended. The original 10% tax credit was a great benefit to customers going solar. Javier Gonzales with the Albuquerque Journal reports “Statewide, the solar energy industry is already providing more jobs for workers and more choices for consumers. Ninety-eight different solar companies employ 1,600 New Mexicans.”
The State tax credit first came to be in 2009. Javier Gonzales reports in his article titled “NM Needs to Extend the Solar Tax Credit” from February 5th, 2016, that the State Tax Credit “has helped 5,500 families across the state install solar panels, and leveraged nearly $30 million in private investment to create high-paying jobs and build infrastructure, helping New Mexico to generate electricity independently and locally.”
This 2017 session they look to extend the 10% until 2020 then dropping it to 5% until 2025. The New Mexico state tax credit has a second chance at getting extended. With your help and action you can let your congress people that this is an important action to you to help grow our local green economy to help sustain job growth in the solar industry.
Find Your legislator and email them that you want to see house Bill 61 accepted!
Check back here for updates on this legislative measure to extend the NM Solar Tax Credit