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IMPROVE HEALTH | ENERGY INDEPENDENCE | SAVE MONEY | BUILD ECONOMY
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Hybrid vehicles can get up to 60mpg without ever having to be plugged in. |
There are many ways that you can save money and save energy with your home and vehicles. For example, there are federal and local government incentives that can help you save money when you buy energy efficiency technologies. Some of these are described below.
For solar energy systems, there is a Federal Solar Tax Credit which covers 30% of installed system cost, up to a maximum credit of $2000 per system for residences (no cap for commercial). Only available for systems purchased and installed in 2006 and 2007. In addition, the New Mexico Solar Tax Credit covers 30% of installed system cost, then less any applicable federal tax credits, up to $9000 per system (for all taxpayers, businesses or residences). Credits will be available for systems purchased after January 1, 2006, through 2015.
To be eligible, systems must be certified first by the New Mexico Energy, Minerals, and Natural Resources Department. The Department will be issuing guidelines and application forms soon. It is not clear yet whether, and to what extent, the new state solar credits will apply to self-installed systems.
For an excellent guide, see How to Go Solar Using New Mexico's New Solar Energy Incentives.
For hybrid vehicles, there are Federal Tax Credits for Advanced Vehicles. On August 8, 2005 President Bush signed the comprehensive energy bill into law. Included were new tax credits for advanced vehicle technologies ranging from $250 to $3,400 depending on the vehicle's level of fuel economy improvement. For a limited time, hybrids such as the Honda Civic Hybrid, Toyota Prius or Ford Escape Hybrid will qualify for tax credits in the range of $1,700-$3,150. The tax credits are available from January 1, 2006 through December 31, 2010, though they will expire earlier for the most popular hybrids. The full tax credits will be available until a manufacturer reaches 60,000 vehicles sold (60,000 for Toyota, 60,000 for Ford, etc.). Once a manufacturer has sold 60,000 vehicles, a one-year "phase out" will begin after the next complete calendar quarter; 50% of the credit will be available for that manufacturer's hybrids in the first two quarters of the phase-out period and 25% in the final two quarters (more information).
New Mexico's state Hybrid vehicle Excise Tax Exemption: From July 1, 2004 through June 30, 2009, hybrid-electric vehicles with an EPA fuel economy rating of at least 27.5 miles per gallon are eligible for a one-time exemption from the motor vehicle excise tax at the time of the issuance of the original certificate of title for the vehicle. To learn more about the Hybrid Tax Incentive, contact the Energy Conservation and Management Division (www.emnrd.state.nm.us/ecmd).
Hybrid Vehicle Free Parking in Albuquerque: Beginning March 31, 2005, a new ordinance allows any hybrid vehicle to park free at any city meter for the duration of that meter. The vehicle must be registered with the City's parking office, located in Room 510 Plaza Del Sol. An identification sticker will be given to the operator, who will then place the sticker on the left rear window of the vehicle. Please be aware, this doesn't mean hybrid vehicles can stay parked at a meter all day. The free parking is only for the duration of the meter where the vehicle is parked. Hybrid vehicles with stickers that are parked longer than the allotted time will be cited. For more information, call The City of Albuquerque's parking office at 505-924-3950. Contact Deborah James: Djames@cabq.gov, 505-768-3036.
If you are a PNM residential natural gas customer, you can get rebates and save money on energy-efficient products and services from the PNM Energy Efficiency Program. PNM offers two kinds of rebates: retail rebates for products you can purchase at a hardware or home-improvement store and install yourself; and contractor-installation rebates for products installed by a participating contractor, including insulation. See more information on this program on PNM's website.
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