N.M. Admin. Code § 3.3.28.16

Current through Register Vol. 35, No. 23, December 10, 2024

Section 3.3.28.16 - CALCULATING THE SOLAR ENERGY SYSTEM COST

A. A state tax credit shall be based on the equipment, materials and labor costs of a solar energy system the department has certified.

B. The equipment, materials and labor costs of a solar energy system the department certifies shall be documented in writing.

C. The cost of a solar energy system the department certifies shall be the net cost of acquiring the system and shall not include the following:

(1) expenses, including but not limited to:

(a) unpaid labor or the applicant's labor;

(b) unpaid equipment or materials;

(c) land costs or property taxes;

(d) costs of structural, surface protection and other functions in building elements that would be included in building construction if a solar energy system were not installed;

(e) mortgage, lease or rental costs of the residence, business or agricultural enterprise;

(f) legal and court costs;

(g) research fees or patent search fees;

(h) fees for use permits or variances;

(i) membership fees;

(j) financing costs or loan interest;

(k) marketing, promotional or advertising costs;

(l) repair, operating, or maintenance costs;

(m) extended warranty costs;

(n) system resale costs;

(o) system visual barrier costs;

(p) adjacent structure modification costs; and

(q) vegetation maintenance costs;

(2) income, including:

(a) payments the solar energy system contractor or other parties provide that reduce the system cost, including rebates, discounts and refunds with the exception of federal, state and local government and utility company solar incentives;

(b) services, benefits or material goods the solar energy system contractor or other parties provide by the same or separate contract, whether written or verbal; and

(c) other financial incentives provided for solar energy system installation, if applicable.

D. The division shall make the final determination of the net cost of a solar energy system the department certifies pursuant to 3.3.28 NMAC.

N.M. Admin. Code § 3.3.28.16

3.3.28.16 NMAC - N, 7-1-06; A, 1-31-08