Solar panel tax credit bill heads to governor’s desk

New Mexico

ALBUQUERQUE, N.M. (KRQE) -A bill that would reinstate tax breaks for New Mexicans who install solar panels sits on the governor’s desk. The Santa Fe New Mexican is reporting that Senate Bill 29 offers a 10% income tax break to homeowners on the cost of the solar equipment and the installation.

There is a tax credit cap of $6,000 per project. The bill has a statewide cap of $8 million a year. It will expire in eight years.

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