New Mexico EV Charger Incentives
Best Rebates for EV Charging New Mexico
New Mexico is a state that is quickly becoming a leader in the electric vehicle (EV) market. With its vast and diverse landscape, it’s no wonder that more and more residents are opting for EVs to help reduce their carbon footprint and save money on fuel costs. To support this growing trend, the state has implemented some great incentives for EV charger installations.
Charge New Mexico
One of the best incentives for EV charger installation is the “Charge New Mexico” program, which is run by the New Mexico Public Regulation Commission. This program offers rebates for both residential and commercial EV charger installations, with the amount of the rebate determined by the number of chargers installed and the type of charger (level 2 or DC fast). For example, a level 2 charger installed at a residence can receive a rebate of up to $1,500, while a commercial installation of four or more DC fast chargers can receive a rebate of up to $50,000. This program is available statewide and is a great way to make EV charging more affordable for residents and businesses alike.
EV Charger Incentive Program
Another great incentive for EV charger installation is the “EV Charger Incentive Program” run by the New Mexico Energy, Minerals, and Natural Resources Department. This program offers rebates for both residential and commercial EV charger installations, with the amount of the rebate determined by the number of chargers installed and the type of charger (level 2 or DC fast). For example, a level 2 charger installed at a residence can receive a rebate of up to $1,500, while a commercial installation of four or more DC fast chargers can receive a rebate of up to $50,000. This program is available statewide and is a great way to make EV charging more affordable for residents and businesses alike.
New Mexico Cities
In addition to these statewide incentives, many cities in New Mexico also offer their own incentives for EV charger installation. For example, Albuquerque has a “Charge Up Albuquerque” program which offers rebates for EV charger installations at both residences and businesses. Santa Fe also offers rebates for EV charger installations through their “Drive Electric Santa Fe” program. And, Taos has a “Taos EV Charging Project” program that offers a rebate of $1,000 for each Level 2 charger installed, and $2,000 for each DC fast charger installed.
Federal Tax Credit
Lastly, individuals can combine federal tax credits with state and local incentives when installing EV chargers. The federal tax credit for EV charger installations is 30% of the cost of the charger and installation, up to $1,000. EV owners can claim this credit for both residential and commercial installations, promoting accessible charging solutions.
In Conclusion
Overall, New Mexico offers a variety of incentives for EV charger installations, from statewide programs to local initiatives. These incentives make it easier and more affordable for residents and businesses to install EV chargers, which helps to support the growing EV market in the state. So, whether you’re in Albuquerque, Santa Fe, Taos or any other city in New Mexico, be sure to check out these incentives and make EV charging more accessible for everyone.