New Mexico Division of Energy Conservation and Management Launches Site to Accept Green Building Tax Credit Applications

Directed by Louise Martinez

REMDR News:

SANTA FE – The Energy Conservation and Management Division (ECMD) of the New Mexico Department of Energy, Minerals and Natural Resources (EMNRD) has initiated a website Accept tax credit claims from residents who take steps to make their homes and businesses more energy efficient.

The green building tax credits were updated in 2020 through amendments to state laws governing personal and corporate income taxes. Legislation governing the personal income tax credit includes provisions that provide additional incentive to make improvements that reduce energy consumption and utility costs in affordable housing or homes occupied by residents in low income.

“We are really excited to launch this website during National Energy Awareness Month,” said ECMD Director Louise Martinez. “This is the perfect time to draw attention to the need for everyone to participate in the effort to improve the quality of life of all citizens through the reduction of energy consumption. Homeowners who live in energy-efficient homes save up to 50% on their utility bills each year – money that goes back into local communities. »

Upgrades qualifying for tax credits include installation of energy-efficient equipment such as air-source and geothermal heat pumps, heat-pump water heaters, energy-efficient windows and doors, high-quality insulation and charging equipment for electric vehicles.

New Mexico taxpayers who have installed these types of products in existing buildings since January 1, 2021 can visit the website to apply for a tax credit certificate.

A certain amount of documentation is required to verify equipment upgrades. Thus, taxpayers are invited to read instructions and checklist available on the site before launching the application.

Applications that include insulation upgrades and/or electric vehicle charging equipment will require downloading a Energy Conservation Product Work Detail Form completed and signed by the installing contractor.

The application site is available here.

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