Santa Fe is renowned for fusing a variety of influences. Its architecture is also unique, reflecting the unusual blend of Anglo, Hispanic, and Native American influences on its culture. But throughout the years, more things have been combined than just this. Although fossil fuels still provide most of the city’s energy, Santa Fe solar panels are quickly gaining favor. Santa Fe, New Mexico, has pledged to derive all of its energy from renewable sources by 2025.
Considering all the fantastic advantages Santa Fe residents might take advantage of, our idea might appear overconfident. A 30% federal tax credit is available, but there are also state incentives to encourage consumers to go solar. Going green is a simple decision thanks to financing choices with no down payment, long-term savings, and Solar’s 25-year warranties and guarantees.
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Going Green in Santa Fe
With the help of renewable energy, the city of Santa Fe is turning green, and the state of New Mexico is also doing its role. The state government has implemented a Renewable Portfolio Standard. In essence, the state has required that by 2020, 20% of its energy must come from sources other than fossil fuels.
Utility companies will acquire Renewable Energy Certificates (RECs) from consumers to demonstrate that they adhere to the RPS. You will get one REC each time your Santa Fe solar panel system produces 1 MW. After that, you may sell those RECs to your power provider for additional money.
PNM supplies Santa Fe with power and will buy your RECs.
There’s also this as if the property tax exemption wasn’t great enough! Solar panel installation is tax-free in Santa Fe. This may be quite beneficial because New Mexico’s sales tax ranges from 5% to 9%, depending on where you live. For instance, if your solar panels cost $15,000, residing in New Mexico would save you from paying more than $700 in sales tax. You will be able to keep more of your money since it will help you save hundreds of dollars or more on solar panels.
