New Mexico to hit solar tax credit limit this summer

10. New Mexico (88.2 MW)

SANTA FE, N.M. (AP) — New Mexico energy conservation officials have been hit with a flood of applications for the state's solar power tax credit and are on track to meet the $3 million cap way before the end of the year.

The cap has been met each of the last four years, but officials say it'll likely happen by the end of July this year.

This marks the last year for the 10-percent tax credit. A measure that called for extending the incentive through 2024 stalled during the last legislative session.

State budget concerns were among the reasons. Some critics also argued the industry no longer needed the help, but supporters vowed to push again next year.

Energy Conservation and Management Division Director Louise Martinez says the program has stimulated the industry in New Mexico.

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