2018 Legislative Session
As Trump delivers blow to solar industry nationally, NM tax credit could ‘zero out’ cost increases
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This week, the Trump administration announced it was imposing new tariffs on imported solar panels and modules—a move that will hit installation companies and consumers alike. But in the New Mexico State Legislature a trio of Democratic state representatives wants to give solar development in New Mexico a boost. House Bill 87 would give people who install a solar thermal system or photovoltaic system at their home, business or farm a ten percent credit of the purchase and installation costs, up to $9,000. If passed, the bill would authorize the state’s Energy, Minerals and Natural Resources Department to pay out up to $5 million in tax credits for the year. The bill is sponsored by Reps.