Director Louise Martinez
EMNRD News:
SANTA FE — The Energy Conservation and Management Division (ECMD) of the New Mexico Energy, Minerals and Natural Resources Department (EMNRD) has launched a website to accept applications for tax credits from residents who take steps to make their homes and businesses more energy efficient.
The Sustainable Building Tax Credits were updated in 2020 through amendments to state statutes governing personal and corporate income taxes. The legislation governing the personal income tax credit includes provisions that offer extra incentive for making upgrades that reduce energy use and lower utility costs in affordable housing units or homes occupied by low-income residents.
“We are really pleased to launch this website during National Energy Awareness Month,” ECMD Director Louise Martinez said. “This is the perfect time to call attention to the need for everyone to be part of the effort to improve the quality of life for all citizens through the reduction of energy use. Homeowners who live in energy-efficient homes are saving up to 50 percent on their utility bills annually – money that goes back into local communities.”
Upgrades that qualify for tax credits include installing energy-saving equipment such as air-source and ground-source heat-pumps, heat pump water heaters, energy-efficient windows and doors, high-quality insulation and electric vehicle charging equipment.
New Mexico taxpayers who have installed these types of products in existing buildings since Jan. 1, 2021, can visit the website to apply for a tax-credit certificate.
A certain amount of documentation is required to verify the equipment upgrades. So, taxpayers are advised to read the instructions and checklist available on the website before starting the application.
Applications that include insulation upgrades and/or electric vehicle charging equipment will require uploading an Energy Conservation Products Work Detail Form completed and signed by the installation contractor.
The application website is available here.