Property Tax Exemption of Solar

Federal regulations won’t stop your New Mexico business from saving with solar. 

The New Solar Market Development Tax Credit allows New Mexico businesses to save 10% on solar installation up to $6,000. This credit covers all ends of the process, including equipment, labor, and material costs. 

From there, the savings only continue.

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Depreciation benefit allows you to lower your business’ taxable income and recuperate your system’s cost. This can be done for the year of purchase or done over five years, depending on how the credit is filed.

According to EarthDay.org, commercial property owners typically reduce overall energy utility costs by 75% by installing solar panels. In a state where sunshine is plentiful, OE Solar can add you to that statistic. 

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For those businesses concerned about upfront costs, Power Purchase Agreements (PPAs) can alleviate some of the financial strain.

Through a PPA, a special purpose entity (SPE) will oversee system installation and operation for a time. Ownership of the system is gradually transitioned back to the customer as they pay it off.

This allows customers, whether in the residential, commercial, or industrial, to claim property tax exemption while reducing upfront costs significantly.

Payback generally takes place over three to five years. In that time, customers will still gain tax benefits while saving on overall system costs

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As a solar EPC that works primarily in the commercial sector, we’re confident that we’ll tailor an energy solution to your business. With over 16 years of experience, OE Solar will assist you every step to ensure your business saves its hard-earned profits. 

Interested? Contact us today for a free quote: 505-850-8863 or at oesolarnm.com