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Renewable Energy Production Tax Credit (Personal) (New Mexico)
EZFeed/Relevant Yes  +
Incentive/Active true  +
Incentive/Amt 0.01/kWh for wind and biomass 0.027/kWh (average) for solar (see below)  +
Incentive/ApplDsc Commercial  + , Industrial  + , Agricultural  +
Incentive/Auth2Code NMAC 3.13.19  +
Incentive/Auth2Link http://www.nmcpr.state.nm.us/NMAC/parts/title03/03.013.0019.htm  +
Incentive/AuthCode N.M. Stat. § 7-2-18.18  +
Incentive/AuthDtEff 2008-01-01  +
Incentive/AuthDtEnact 2007-04-03  +
Incentive/AuthExpireDt 2018-01-01  +
Incentive/AuthLink http://www.nmonesource.com/nmnxtadmin/NMPublic.aspx  +
Incentive/CarOvProv Prior to 10/1/2007: Excess credit may be carried forward five years After 10/1/2007: Excess credit is refunded to the taxpayer  +
Incentive/Cont2Addr 1100 South St. Frances Dr  +
Incentive/Cont2Addr2 PO Box 630  +
Incentive/Cont2Dept Taxation and Revenue Department  +
Incentive/Cont2Div Administrative Services Division - Joseph Montoya Bldg.  +
Incentive/Cont2Name Public Information  +
Incentive/Cont2Phone (505) 827-0369  +
Incentive/Cont2Phone2 (505) 827-0870  +
Incentive/Cont2Place Santa Fe, New Mexico  +
Incentive/Cont2Website http://www.tax.state.nm.us/  +
Incentive/Cont2Zip 87504-0630  +
Incentive/ContAddr 1220 South St. Francis Drive  +
Incentive/ContAddr2 Wendell Chino Building, First Floor  +
Incentive/ContDept New Mexico Energy, Minerals and Natural Resources Department  +
Incentive/ContDiv Energy Conservation and Management Division  +
Incentive/ContEmail harold.trujillo@state.nm.us  +
Incentive/ContName Harold Trujillo  +
Incentive/ContPhone (505) 476-3372  +
Incentive/ContPlace Santa Fe, New Mexico  +
Incentive/ContZip 87505  +
Incentive/EligSysSize Minimum of 1 MW capacity per facility  +
Incentive/EnergyCat Renewable Energy Incentive Programs  +
Incentive/EquipReqs System must be in compliance with all applicable performance and safety standards; generators must be certified by the New Mexico Energy, Minerals, and Natural Resources Department (EMNRD).  +
Incentive/ExpireDt January 1, 2018  +
Incentive/ExpireDtString 2018-01-01  +
Incentive/ImplSector State/Territory  +
Incentive/MaxInc Wind and biomass: First 400,000 MWh annually for 10 years (i.e. 4,000,000/year) Solar electric: First 200,000 MWh annually for 10 years (annual amount varies) Statewide cap: 2,000,000 MWh plus an additional 500,000 MWh for solar electric  +
Incentive/Name Renewable Energy Production Tax Credit (Personal)  +
Incentive/ProgAdmin Taxation and Revenue Department  +
Incentive/StartDate January 1, 2008  +
Incentive/StartDateString 2008-01-01  +
Incentive/Summary Enacted in 2002, the New Mexico Renewable
Enacted in 2002, the New Mexico Renewable Energy Production Tax Credit provides a tax credit against the personal income tax of $0.01 per kilowatt-hour (kWh) for companies that generate electricity from wind or biomass. Companies that generate electricity from solar energy receive a tax incentive that varies annually according to the following schedule: * Year 1: $0.015 per kWh * Year 2: $0.02 per kWh * Year 3: $0.025 per kWh * Year 4: $0.03 per kWh * Year 5: $0.035 per kWh * Year 6: $0.04 per kWh * Year 7: $0.035 per kWh * Year 8: $0.03 per kWh * Year 9: $0.025 per kWh * Year 10: $0.02 per kWh According to the Energy, Minerals and Natural Resources Department, this incentive averages $0.027 per kWh annually.<br> <br> For wind and biomass generators, the credit is applicable only to the first 400,000 megawatt-hours (MWh) of electricity in each of 10 consecutive taxable years. For solar, the credit is applicable only to the first 200,000 MWh of electricity in each taxable year. To qualify, an energy generator must have a capacity of at least 1 megawatt and be installed before January 2018.<br> <br> Total generation from both the [http://www.dsireusa.org/library/includes/incentive2.cfm?Incentive_Code=NM02F&state=NM&CurrentPageID=1&RE=1&EE=1 corporate ] and personal tax credit programs combined must not exceed 2,000,000 MWh of production annually, plus an additional 500,000 MWh produced by solar energy. Taxpayers cannot claim both the corporate and the personal tax credit for the same renewable energy system.<br> <br> For electricity generated prior to October 1, 2007, excess credit may be carried forward for up to 5 consecutive taxable years. For electricity generated on or after October 1, 2007, excess credit shall be refunded to the taxpayer in order to allow project owners with limited tax liability to fully utilize the credit.
tax liability to fully utilize the credit.  +
Incentive/TechDsc Solar Thermal Electric + , Photovoltaics + , Landfill Gas + , Wind + , Biomass + , Municipal Solid Waste + , Anaerobic Digestion +
Incentive/Type Personal Tax Credit +
OpenEI/PageDescription Renewable Energy Production Tax Credit (Personal): energy incentive program.  +
OpenEI/PageKeyword Energy Incentives  + , New Mexico  + , Personal Tax Credit  + , Taxation and Revenue Department  +
Place New Mexico: Energy Resources +
Website http://www.emnrd.state.nm.us/ecmd/CleanEnergyTaxIncentives/ProdTaxCredit.html  +
Categories Financial Incentive Programs , Pages with reference errors , Incentive with Contacts , Incentive with Authorities
Modification date
"Modification date" is a predefined property that corresponds to the date of the last modification of a subject and is provided by Semantic MediaWiki.
23:51:08, 12 February 2015  +
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