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Sustainable Building Tax Credit / Energy Conserving Products (ECP)
New Mexico — state program$2,000 including product and installation costs (per product installed if the applicant is a low-income taxpayer); $1,000 including product and installation costs per product installed (if the applicant is a non-low-income customer)
The Sustainable Building Tax Credit offers financial incentives for incorporating energy-efficient and environmentally friendly features into buildings. Energy Conserving Products (ECPs) must be ENERGY STAR rated and meet specific insulation standards. Applies to heat pumps installed in residential or commercial buildings.
Program details
- Type
- tax-credit
- Amount
- $2,000 including product and installation costs (per product installed if the applicant is a low-income taxpayer); $1,000 including product and installation costs per product installed (if the applicant is a non-low-income customer)
- Eligibility
- Energy-conserving products must reduce the energy consumption of a residential or commercial building. Products must be ENERGY STAR rated or meet equivalent performance values for the location installed. Products installed from January 1, 2021 onward for taxable years before January 1, 2028.
- Status
- open
- Administrator
- Energy, Minerals and Natural Resources Department (EMNRD)
Source: New Mexico — state program. Confirm current terms with the administering agency before applying.