New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 14 - NEW SOLAR MARKET DEVELOPMENT INCOME TAX CREDIT › Section 3.3.14.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
"Applicant"
means a New Mexico taxpayer that has installed a solar energy system at a residence, business or agricultural enterprise that the taxpayer owns or a New Mexico taxpayer who has installed a solar energy system at a residence, business, or agricultural enterprise held in leasehold and located on a federally recognized Indian nation, tribe or pueblo that is located in whole or in part within New Mexico and who requests that the department certify the solar energy system pursuant to 3.3.14 NMAC so that the taxpayer may receive a state tax credit.
B.
"Application package"
means the application documents an applicant submits to the department for certification to receive a state tax credit.
C.
"Array"
means the collectors of a solar thermal system or the modules of a photovoltaic system.
D.
"Building code authority"
means the New Mexico regulation and licensing department, construction industries department or the local government agency having jurisdiction for building, electrical and mechanical codes.
E.
"Certified"
or
"certification"
means department approval of a solar energy system, which makes the applicant owning the system eligible for a state tax credit.
F.
"Collector"
means the solar thermal system component that absorbs solar energy for conversion into heat or electricity.
G.
"Collector aperture"
means the area of a solar thermal collector that absorbs solar energy for conversion into usable heat.
H.
"Component"
means a solar energy system's equipment and materials.
I.
"Department"
means the energy, minerals and natural resources department.
J.
"Division"
means the department's energy conservation and management division.
K.
"Energy system"
means an engineered system that delivers solar energy to an end use by flow of fluid or electricity caused by energized components such as pumps, fans, inverters, or controllers.
L.
"Installed",
or
"installation"
means the direct work of placing a solar energy system into service to operate and produce energy at the expected level for a system of its size, which shall include completion of any required final inspections, unless the installation is on tribal or pueblo land in which case contractor certification of installation shall suffice for the system to meet this definition.
M.
"Mobile"
means not permanently connected to a residence, business or agricultural enterprise or connected to a mobile vehicle that is a part of a residence, business, or agricultural enterprise.
N.
"Module"
means the photovoltaic system component that absorbs sunlight for conversion into electricity.
O.
"New"
means the condition of being recently manufactured and not used previously in any installation.
P.
"New solar market development income tax credit"
means the personal income tax credit the state of New Mexico issues to a taxpayer for a solar energy system the department has certified pursuant to 3.3.14 NMAC.
Q.
"Non-residential"
means a business or agricultural enterprise.
R.
"OG"
means operating guidelines that the solar rating and certification corporation has or will establish including system performance or component characteristics as defined in the applicable SRCC directory. Operating guidelines shall be from SRCC directory in effect on March 1, 2006, or any applicable successive revisions.
S.
"Solar collector"
means a solar thermal collector or photovoltaic module.
T.
"Solar energy system"
means a solar thermal system or photovoltaic system.
U.
"Solar storage tank"
means a tank provided as a component in a solar thermal system that is not heated by electricity or a heating fuel.
V.
"SRCC"
means the solar rating and certification corporation.
W.
"Standard test conditions"
means the environmental conditions under which a manufacturer tests a photovoltaic module for power output, which are a photovoltaic cell temperature of 25 degrees Celsius and solar insolation of 1000 watts per square meter on the photovoltaic cell surface.
X.
"State tax credit"
means the new solar market development income tax credit.
Y. "
Substantially Complete
" means a system that produces energy to the benefit of the residence, business or agricultural enterprise and has been inspected by the applicable authorities. A system that is substantially complete shall be eligible for the tax credit even if the original installation contractor is no longer in business.
Z. "
Supplemental state tax credit
" means the new solar market development income tax credit awarded for eligible solar energy systems installed in calendar years 2020-2023 when certification was not previously awarded due to exhaustion of credit certification limits.