Tax Credits and Rebates for Sustainable Building
There are numerous tax credits and rebates for sustainable buildings, many of which are new or have recently increased. They can be fairly complex and vary with the period involved. There are Federal, New Mexico, and utility credits and rebates. It is suggested to seek advice from a professional consultant before making important decisions.
Federal programs include a 30% tax credit for solar investments, whether for solar electric or thermal. These credits include solar support structures and energy storage. There is also a geothermal tax credit, residential energy tax credit, and an electric vehicle charging station credit. Electric vehicles can have up to a $7,000 tax credit.
New Mexico has a sustainable building tax credit for up to $13,000, a 10% tax credit for solar, and a Gross Receipts Tax exemption for solar that can be worth more than 8%. Utility companies are required to offer incentives for energy efficiency measures for new and existing homes.
To see what effect investments in sustainability will have on home ownership economics, read our Blog Page, or look for The Cumulative Savings Calculator.