- Associated Press - Wednesday, March 4, 2015

SANTA FE, N.M. (AP) - You might soon be able to get a tax credit even if you are leasing a solar power system for your home or small business.

The New Mexico House of Representatives on Tuesday unanimously approved the legislation by Republican Rep. Sarah Maestas Barnes of Albuquerque. It now moves to the Senate.

Currently, a tax credit applies only to purchase of a solar panel system, not leasing one. Both solar thermal and photovoltaic systems are covered.

Maestas Barnes says the tax credit “extends the availability of solar technology and promotes the use of clean energy to all New Mexicans.”

The bill is applicable to taxable years beginning on or after Jan. 1, 2015. Tax credits will not apply for installations completed after Dec. 31, 2016.

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