Varies
Amount varies
Tax Credit
Reduces tax liability
Rolling
No fixed cutoff
Annual tax return
Claim with year-end filing
Moderate
File with tax return
10% income tax credit for commercial solar PV and thermal installations, plus a separate 5% credit for battery storage. Combined with the federal ITC, New Mexico businesses can offset 40–50% of clean energy project costs.
Do I qualify?
Answer the questions below to get an instant self-assessment of your fit for this program. This is informational — final determinations are made by the administering agency.
1.Business must be a New Mexico taxpayer with qualifying solar or storage installation
2.Solar PV: 10% of eligible costs (no cap for commercial since 2020)
3.Battery storage: 5% of eligible costs as separate credit
4.System must be installed and operational in the tax year claimed
5.Credits are non-refundable but carry forward 5 years
NCDOR · North Carolina
Provides state income tax credits for investments in renewable energy equipment and energy efficiency improvements for business properties in North Carolina, stackable with federal ITC.
LPO · United States
Offers federal loan guarantees for innovative clean energy projects that struggle to access conventional financing. Supports first-of-kind commercial-scale projects in renewable energy, storage, advanced nuclear, and industrial decarbonization.
ACA · Arizona
Provides Arizona corporate income tax credits for qualified renewable energy operations manufacturing solar, wind, geothermal, or fuel cell equipment in Arizona, creating qualifying jobs.