Local News
7:53 am
Tue January 1, 2013

New Mexico Agency Tallies Renewable Energy Tax Credits

New Mexico officials say they reviewed and processed thousands of requests last year for tax credits and other funding aimed at boosting renewable energy development in the state.

The Energy, Minerals and Natural Resources Department outlined some of the accomplishments in its new annual report.

The agency says it received more than a dozen applications for the state's renewable energy production tax credit. It awarded nine certificates for solar generators and one for a wind farm over a 12-month period through October 2012.

The tax credit has been maxed out, but those credits issued to older generators will start to be retired in 2013. That means those funds will be available again for newer projects.

The agency also processed more than 2,200 tax credit applications aimed at making residential solar systems more affordable and at encouraging sustainable building practices.