Environmentally friendly homes to get tax credits
New Mexico intends to reduce energy reliance on the grid by offering monetary incentives to homeowners who make their homes more energy efficient.
In order to make this happen the New Mexico legislature approved a new tax credit system. Under this system, residents of New Mexico will be reimbursed for energy efficient installations that they fix in their homes. Households with low income located in cities such as Albuquerque could be reimbursed for the entire price of new installations, such as water heaters and upgrades to their insulation.
The stated goal of the program is to help residents keep their energy-related expenses as low as possible. This will help the state reach its climate change goals by minimizing the emissions related to operating a home or building, and improve the community’s health by reducing emissions. The tax credits can also be applied to the transport section where credits will be used to help people install the necessary infrastructure for electric vehicle charging stations. Poster printing can be used to mark charging stations.
A representative from Prosperity Works named Ona Porter supported the program and stated:
New Mexicans will qualify for the tax credits as long as the purchases for the new installations were made on or after January 1, 2021.
In order to make this happen the New Mexico legislature approved a new tax credit system. Under this system, residents of New Mexico will be reimbursed for energy efficient installations that they fix in their homes. Households with low income located in cities such as Albuquerque could be reimbursed for the entire price of new installations, such as water heaters and upgrades to their insulation.
The stated goal of the program is to help residents keep their energy-related expenses as low as possible. This will help the state reach its climate change goals by minimizing the emissions related to operating a home or building, and improve the community’s health by reducing emissions. The tax credits can also be applied to the transport section where credits will be used to help people install the necessary infrastructure for electric vehicle charging stations. Poster printing can be used to mark charging stations.
A representative from Prosperity Works named Ona Porter supported the program and stated:
"These refundable and transferable tax credits are doubled for low-income New Mexicans or affordable housing, in most cases paying 100% of the incremental costs for each measure. This is climate justice in action."
New Mexicans will qualify for the tax credits as long as the purchases for the new installations were made on or after January 1, 2021.