New Mexico: bill offers $6,000 tax credit on rooftop solar

Source: By Associated Press • Posted: Friday, February 15, 2019

New Mexico would provide a $6,000 credit against taxes for households, small business and farms that install rooftop solar energy systems under a bill introduced Tuesday.

The proposal from Democratic state Sen. Mimi Stewart of Albuquerque would set aside up to $10 million a year for the credits.

The credit can be carried over the course of up to five years for applicants with small annual tax liabilities.

In a statement, Democratic Gov. Michelle Lujan Grisham endorsed the tax break as a way to create more jobs in the clean power sector and address climate change concerns.

The governor’s Republican predecessor blocked a similar measure approved by the Legislature last year. Republican legislators derided that bill as a tax break for the affluent.