UPDATE on NM Solar Tax Credit: IMPORTANT information for clients who have yet to file for their NM Solar Tax Credit

Dear Valued Clients,

Thank you for making Positive Energy Solar the number one solar energy partner in New Mexico. Your support of a local, employee owned Benefits corporation shows your desire to empower businesses that serve their community. Our mission is to provide reliable service through the ever-changing landscape of incentives available to solar power customers. This message is to inform you of an important situation that may affect you and many New Mexicans this summer. The New Mexico Solar Market Development Tax Credit, or Solar Tax Credit (STC) is near full allocation and is scheduled to sunset this year.

The $3 million annual allocation for the STC has been taken advantage of by hundreds of solar customers this year. As each STC application is received, processed and approved, the funds are distributed on a first come first serve basis. As a result, the NM Energy Minerals and Natural Resources Department (EMNRD), who oversees this allocation, has projected that the last payable application date now stands at June 23rd. You can check EMNRD’s website for the latest report on the allocation of the STC here.

Applications for the STC may only be submitted once your system is installed, inspected and you have a signed interconnection agreement from your utility company. We are doing everything in our power to get your system installed and inspected as soon as possible to optimize your chances at being awarded the STC, however there are many delays due to the volume of demand. This year’s STC funding is being allocated quickly and the estimated date of full allocation is a moving target. Please feel free to contact EMNRD, your Project Manager or Technical Sales Advisor should you have any questions.

Solar power is a great investment even without the STC. Going solar still allows homeowners to take control of an otherwise uncontrollable expense -their electric bill. The price of panels and installation are at an all time low, making now an excellent time to buy. The Federal Income Tax Credit for 30% off the total cost is scheduled to be available through 2019.

The sun is our greatest natural resource. In very few places does the sun shine more often than in the Land of Enchantment. At Positive Energy Solar, we look forward to the continuing to serve New Mexicans with clean, renewable solar energy.

Thank you,

Regina Wheeler

CEO, Positive Energy Solar