New Mexico Solar Market Expected to Boom

[jpak]

http://www.renewableenergyaccess.com/rea/news/story?id=44328

Santa Fe, New Mexico You might think New Mexico, with its second-in-the-nation solar energy potential, would lead the states in turning the sun's inexhaustible rays into energy. But with less than 100 kW of grid-connected power and the greater majority of its solar installations located in off-grid installations, solar in the Southwest state is by no means a trend -- it is hardly a booming industry. All that may be about to change this year and beyond as a combination of newly established incentives and programs are now offering everything from a $9000 tax credit, to performance-based rebate tariffs upwards of 20 cents per kWh.

"There's no reason New Mexico wouldn't lead the country. What we have as an edge are the national labs and the solar resources. We'll catch up quickly with this new credit, we may be behind the eight ball but we'll get ahead very fast." -- Jeanne Bassett, Executive Director of the New Mexico Public Interest Research Group

First off, Governor Bill Richardson recently signed Senate Bill 269, which creates a 30 percent tax credit, allowing an individual tax credit of 30 percent of the purchase and installation costs for solar electric and solar thermal systems, up to $9,000 for each system. The bill provides $3 million for solar electric tax credits and $2 million for solar thermal tax credits each year. And the credit is available for 10 years.

So where else have we heard about a 30 percent tax credit? At the federal level, of course, where a much shorter two-year window began this year for a 30 percent tax credit for individuals. This much-hailed piece of legislation, included in last year's energy bill, is the first federal solar tax credit in more than a decade.

<more>

edit: this is what happens when you have Democratic leadership in energy policy....

:)