Cities / New Mexico / Rebates
Geothermal Ground-Coupled Heat Pump Tax Credit: Open
Enrollment for 2026 is open. Open. The tax credit is available for systems installed between May 15, 2024, and December 31, 2034.
Serves: New Mexico residences.
Do I Qualify
- Own the New Mexico residence and file a New Mexico income tax return.
- Apply within one year of purchase and installation.
- Do not combine this credit with the Sustainable Building Tax Credit for the same heat pump.
How Much Comes Off
| Equipment | Requirement | Amount |
|---|---|---|
| Geothermal ground-coupled heat pump | COP ≥3.4 or EER ≥16; installation by an IGSHPA-recognized or similarly certified professional. | $9,000 per system |
Valid from May 15, 2024 to December 31, 2034.
Who Files It
The homeowner obtains an EMNRD certificate and claims the credit on the state tax return.
The money is paid to the homeowner.
The Steps to Apply
- Install the qualifying system and collect ownership, invoice, certification and inspection records.
- Apply for certification and include the certificate with the state tax return. Apply.
Read on October 22, 2026 from the New Mexico Energy, Minerals and Natural Resources Department page. A change to this program is a dated line in the changelog.