N.M. Admin. Code § 3.3.32.13

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

Section 3.3.32.13 - CALCULATING THE GEOTHERMAL GROUND-COUPLED HEAT PUMP SYSTEM COST

A. The cost of a geothermal ground-coupled heat pump system the department certifies shall be the cost of acquiring the system but 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 geothermal ground-coupled heat pump 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 visual barrier costs;

(o) adjacent structure modification costs;

(p) vegetation maintenance costs; and

(2) income, including:

(a) payments the accredited installer 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 incentives;

(b) services, benefits or material goods the accredited installer or other parties provide by the same or separate contract, whether written or verbal; and

(c) other financial incentives provided for geothermal ground-coupled heat pump system installation, if applicable.

B. The division shall make the final determination of the net cost that the department certifies is eligible for a tax credit.

N.M. Admin. Code § 3.3.32.13

3.3.32.13 NMAC - N, 9/15/2010