TAX INCENTIVES
GSA APPROVED
OE Solar has over 15 years' experience in working with financial institutions and tax credits related to solar projects, comprehensive project analysis, and credited payback periods, and financial modeling to maximize ROI's. We can offer you a clear project plan and guide you in the right direction to make the most of the tax credits available. This page is offered as a resource, and as new ans additional information comes out, this page will be updates and OE Subscribers will be notified
FEDERAL TAX INCENTIVES
Federal Investment Tax Credit (ITC).
The Federal Investment Tax Credit (ITC). Businesses that install solar photovoltaic (PV) systems are eligible to receive an (ITC) investment tax credit, which can be used to offset federal tax liability on a dollar-for-dollar basis. If the tax credit exceeds your tax liability, you can roll the credit forward into future tax periods for up to 10 years. Commercially owned PV projects that commence construction in 2022 are eligible to receive a 30% tax credit of the total PV system cost. Implementing
The Federal Investment Tax Credit (ITC). Businesses that install solar photovoltaic (PV) systems are eligible to receive an (ITC) investment tax credit, which can be used to offset federal tax liability on a dollar-for-dollar basis. If the tax credit exceeds your tax liability, you can roll the credit forward into future tax periods for up to 20 years. Commercially owned PV projects that commence construction in 2022 are eligible to receive a 30% tax credit of the total PV system cost. After that, the ITC steps down: 2023 projects qualify for a 26% ITC; 2024 and later commercial projects may not be eligible for an ITC.
STATE TAX INCENTIVES
Also known as the Solar Market Development Tax Credit, the NM PV provides a tax credit of 10% for small solar systems, including on-grid and off-grid PV systems and solar thermal systems. The starting date for this tax credit is March 1, 2020, and the tax credit runs through December 31, 2027. There is a cap of $12 million in tax credits to be issued every year on a first-come, first-serve basis. There is a tax credit cap of $6,000 per project.
CONTACT US
Empowering Solutions for Clients
OE Solar offers a comprehensive spectrum of services for clean energy construction projects including solar PV, energy storage systems, and EV charging stations. From beginning to end OE Solar handles your project with quality and care.
Expansive Solar Farming for Large Operations.
Maximize your renewable energy potential. Big operations require big solutions. Our policy and design team brings environmentally conscious, economic, and reliable power to your big operation. Let us ensure that you meet or exceed your clean energy production goals.
Commercial Solar Tax Credits & Incentives in New Mexico
​OE Solar is committed to helping you understand how solar tax credits work and will be beneficial to your business operation, saving you money over the lifetime of the system. Solar can be a valuable investment for your business with the multitude of compounding incentives that are offered. From Federal to State incentives as well as EV Charger tax incentives we have complied the information here to help you understand the new benefits that are now available to your business organization. Furthermore, many solar tax credits and incentives are available to encourage individuals and businesses to use solar more extensively. It is possible to recoup as much as 50% of the overall project costs in the first year alone. The incentives highlighted below are for corporate clients as this is the niche Market of OE Solar, the only Solar Company in New Mexico that specializes only in Commercial, Government and Small Utility Projects.
FUNDING ASSISTANCE
Our experienced project finance team will work with you to analyze a variety of solar financing options, incentives, and rebate programs – to find a solution that best fits your budget and maximizes ROI.
POLICY EXPERTS
Our expert knowledge of energy policy and relationships with policymakers and regulators allow us to make solar simpler and more streamlined for commercial and industrial clients
GSA APPROVED
We are a trusted GSA approved, woman-owned small business that meets the requirements of many Federal agency diversity contract goals. OE solar electricians are held to the highest licensing standards.