• Stefi Weisburd
• 350 New Mexico
• weisburd@mac.com
• 505-363-0990

Incentives for Solar, EVs, Going Electric

Incentives

Shorter FEDERAL Tax Credit Deadlines

Electric work for EV charger expires 12/31/25

Must have written contract and made some

downpayment including trade-in by Sept. 30

State – USED TC - MUST GET 1 YEAR WARRANTY FROM DEALER; Leased – 3 years min.

Info, checklist

EV Support Center is available

Monday–Friday, 9 am–5 pm PT

https://pluginamerica.org/wp-content/uploads/2024/10/2024-Tax-Credit-Checklist-for-EV-Chargers-personal.pdf

Find a vehicle that qualifies for both tax credits

NEW

• Income limits
• Price < $55,000.
• Visit https://fueleconomy.gov/feg/tax2023.shtml

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2025 Hyundai IONIQ 5

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• Model year 2023 or older (e.g., MY 2021).
• $25,000 or less
• NM dealer provides 1 year warranty
• car has not had credit previously
• the car is on this list: https://fueleconomy.gov/feg/taxused.shtml and the dealer confirms it is eligible.

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USED

Federal income (e.g., <$150,000 joint filers)

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Apply for certificate with state right after purchase.

Best deals before Federal Tax Credits expire in December.

Solar and Battery Storage

NM: rejected application between 2020-2023? You have until Dec. 31, 2025 to apply for supplemental Solar Tax Credit

Best deals before Federal Tax Credits expire in December.

Windows.

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And any weatherization in general is highly cost effective in of itself and may reduce the size, and hence, cost of a subsequent heat pump.

Difficult message to get across.

Heat pump water heaters. Before you are faced with an emergency.

Federal tax credit - $2,000 max for HPWH and HP in same year.

Heat Pumps

Taxpayer/PNM Example

Proposal for 1300 sq ft Santa Fe home

Ducted Energy Star SEER2 – 17.1; HSPF2 9.2

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Cost $18,900

Federal -$2,000

NM SBTC -$1,000

PNM Midstream -$860

Total $15,040

Income-qualified – No tax liability

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NM HEAR rebate $8,000

NM SBTC $2,000

Or thru a CEED grant or the like

Make sure technical requirements and installer qualify for all programs

Community Groups & Local Governments

Even without Federal tax credits there still are a lot of utility/coop, state & local incentives that can be stacked together.

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If you pay federal taxes, try to get a project done this year for maximum incentives.

State Energy Coaches coming late fall

Income qualified programs

GREAT FOR

• renters
• income-qualified
• businesses
• inadequate roofs
• UTILITY customers only

Clean electricity from local solar farm thru your utility.

Discounted up to 28% for qualified customers.

Sign up:

Income qualified programs - State

New NM HEAR rebates*: heat pumps (HP), heat pump water heater, electrical upgrade, induction cooktops, HP clothes dryer, DIY insulation.

Apply Now. 2024 income. Contractor list for HPs Sept/Oct.

First HPs will be Daikin and Goodman. Samsung?

https://clean.energy.nm.gov

Sustainable Building Tax Credits are refundable for some income levels**. Even if you don’t pay any state taxes you get the credit. Windows, doors, air-source and ground-source, insulation, HPWH, EV ready equipment.

Clean Cars Tax Credit is refundable. PNM has an income-qualified rebate on EVs while the funds last.

*<80% AMI

**<200% Federal Poverty Level

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Income qualified comprehensive programs for

Weatherization & Retrofit

Community Energy Efficiency Development (CEED) Program grants coming from some cities, counties

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Coming….

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Tools & Resources

Savings Calculator for customized incentives

Try it out yourself!

https://homes.rewiringamerica.org/calculator

(or https://shorturl.at/lH57O)

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https://embed.rewiringamerica.org/bill-impact-calculator.html

How much will I save by going electric?

https://www.redwoodenergy.net/watt-diet-calculator

Want to learn more?

Become a Rewiring America Electric Coach - 4 week program

Watch The ASK Sean Show – Orange County Climate Reality Project

Electrify Now webinars and video library (newsletter too)

Home Energy Academy Classes

Santa Fe Community College classes – Smart Academy –Energy Auditors.

Colorado: Go Electric Colorado - Free electric coaching – if you want to start your own group

Rewiring America Electric Coach interview form

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https://shorturl.at/4YOd2

New Mexico State Updates

• Energy Coaches program implemented by Homewise – redoing State website and will real people late fall
• All tax credits – must apply for certificate first long before you file your taxes
• Sustainable Building Tax Credit is often overlooked.
• HEAR income qualified rebate program is expanding to heat pumps, HPWH and electrical work (already have electric/induction cooking, DIY insulation and HP dryer.
• FIRST heat pumps will be Daikon, Goodman and possibly Samsung leaving out many installers who focus on 1 or 2 brands.

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https://shorturl.at/9mO1E

For questions about a particular project/technology ….

2. Cheat Sheet

350 New Mexico

https://350newmexico.org/electrify-new-mexico/