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New Mexico EV Tax Credits, Rebates and Incentives
While electric vehicles (EVs) are still a small part of New Mexico’s roads, they are steadily gaining traction in New Mexico thanks to new state policies aimed at expanding EV adoption.
Soon, dealerships will be required to make nearly half their inventory electric, encouraging more drivers to drive electric. With dealerships set to offer a larger selection of EVs and generous incentives available, including the New Mexico EV tax credit, there has never been a better time to make the switch.
New Mexico EV Tax Credits
New Mexico’s Clean Car Tax Credit makes EV ownership more accessible by offering a state tax credit of up to $3,000 for EVs and plug-in hybrid electric vehicles (PHEVs).
Here’s a breakdown of the available savings:
- New EVs: $3,000 tax credit (MSRP cap: $55,000)
- New PHEVs: $2,500 tax credit
- Used EVs: $2,500 tax credit (vehicle must be at least two years old; MSRP cap: $25,000)
- Used PHEVs: $2,000 tax credit
- EV Chargers: Up to $400 for Level 1 chargers, $400 for Level 2 chargers, and $25,000 for DC Fast chargers
The vehicle portion of the credit is available if you’re buying a new vehicle, a used model that is at least two years old, or signing a lease of at least three years. For vehicles to qualify, the sales price cap for new cars is $55,000 MSPR, and $25,000 for used vehicles.
By purchasing a new EV that meets these requirements, you can be eligible for a $3,000 tax credit, whereas you’ll receive up to $2,500 for a new PHEV, $2,500 for a used EV, and $2,000 for a used PHEV.
New Mexico’s Sustainable Building Tax Credit
Homes and commercial buildings are also eligible for savings through the Sustainable Building Tax Credit, which is intended to help offset the cost of making the property EV-ready. The base amount for this credit is $500, which increases to $1,000 for low-income households.
This tax credit can also be used to support the installation of an Energy Star heat pump or heat pump water heater, improvements in insulation levels, or installing Energy Star windows or doors.
While the state’s Clean Car Tax Credit is meant to cover the actual cost of purchasing the EV charger, this credit helps offset the cost of electrical upgrades necessary for EV charging.
Federal Tax Credits for EVs and EV Chargers
New Mexico residents may also qualify for federal EV tax credits like the $7,500 clean vehicle tax credit for new vehicles, or the $4,000 used clean vehicle tax credit. Income restrictions as well as battery component and critical mineral restrictions may apply. Be sure to speak to a qualified CPA or tax professional to check your eligibility.
Additionally, the Alternative Fuel Vehicle Refueling Property Credit provides a federal tax credit up to $1,000 to offset costs related to installing an EV charger at home. Businesses can claim EV charger tax credits worth up to $100,000.
New Mexico EV Charger Rebates
Charging your EV at home is both affordable and convenient. To achieve the best charging speed with your residential electrical infrastructure, it is essential to install a Level 2 EV charger with the help of a qualified EV charger installation professional.
Seven utility providers in New Mexico offer EV charger rebates, with average an rebate amount of $250 dollars for homeowners and up to $7,500 for businesses:
Central New Mexico Electric EV Charger Rebates
Central New Mexico Electric offers rebates on EV charging equipment. Contact the utility directly to find out the exact amount and conditions for which you are eligible.
Continental Divide Electric EV Charger Rebates
Continental Divide Electric customers can qualify for a $250 rebate on a Level 2 EV charger, which covers up to 50% of the total cost.
Businesses can claim additional rebates, including a rebate of up to $1,000 for Level 2 charging and up to $7,500 for DC Fast charging.
Jemez Mountains Electric EV Charger Rebates
Jemez Mountains Electric residential customers can claim a $250 rebate for a non-managed Level 2 EV charger and up to $1,000 for a managed charger.
Businesses can receive up to $1,000 for Level 2 charging projects and as much as $7,500 for DC Fast charging initiatives.
Otero County Electric EV Charger Rebates
Otero County Electric has a program designed to make EV chargers more affordable, but you’ll have to contact the utility directly for the details.
Public Service Company of New Mexico EV Charger Rebates
The Public Service Company of New Mexico offers a mix of EV charger rebates for homes, businesses, and multifamily properties.
As a residential customer, you can claim an income-based rebate of $500-$2,000 toward a Level 2 charger.
Businesses can get up to $2,500 for a Level 2 charger and up to $25,000 to install a DC Fast charging station. Additional rebates are available for income-qualified properties.
For multifamily EV charging projects, the Public Service Company of New Mexico offers rebates that start at $2,500 for a Level 2 charger and go up to $5,000 per charging port for income-qualified properties.
Roosevelt County Electric EV Charger Rebates
For Roosevelt County Electric customers interested in electrification, the utility offers a $250 rebate toward a Level 2 EV charger.
Xcel Energy EV Charger Rebates
While Xcel Energy’s EV charger rebate no longer accepts applicants, you can still save thanks to the utility’s home wiring rebate. Through this rebate, you could get up to $500 to upgrade your electrical infrastructure or up to $2,400 if you meet income requirements.
EV Charging Rates in New Mexico
To further help EV owners reduce charging costs by encouraging off-peak charging, utilities in New Mexico offer time-of-use (TOU) electricity rates designed to lower the cost of charging EVs.
These TOU plans incentivize vehicle charging during off-peak hours, making EV ownership more affordable.
It’s important to ensure your EV charger installation meets all program requirements, as some utilities require a separate meter for your EV charger before you can enroll. Working with a certified EV installer can help you confirm your EV charger installation will qualify.
Central New Mexico Electric
Central New Mexico Electric’s TOU plan offers off-peak rates of $0.04 per kWh and on-peak pricing of $0.15 per kWh.
The on-peak rate applies from 9 a.m. to 12 p.m. and 5 p.m. to 8 p.m. in the winter and from 3 p.m. to 8 p.m. in the summer.
Continental Divide Electric
With this utility’s TOU billing program, you could pay just $0.07 per kWh for EV charging from 9 a.m. to 6 p.m. and again from 9 p.m. to 6 a.m. Outside of these hours, your rate will be $0.15 per kWh.
Duncan Valley Electric
If you enroll in Duncan Valley Electric’s optional TOU plan, your rate will drop to $0.05 per kWh from 7 p.m. to 1 p.m. the next day in the summer.
This rate will also apply in the winter from 9 p.m. to 6 a.m. and again from 9 a.m. to 6 p.m. The rest of the time, you’ll pay the on-peak rate of $0.14 per kWh.
El Paso Electric
El Paso Electric offers an Experimental EV charging rate to its New Mexico customers, with super-off-peak rates as low as $0.007.
The regular off-peak rate is $0.05 per kWh and spikes to $0.38 during summertime on-peak periods.
You can contact the utility directly for a breakdown of seasonal on-peak and off-peak hours.
Jemez Mountains Electric
If you join Jemez Mountains Electric’s TOU plan, you can charge your EV for $0.08 per kWh from 1 p.m. to 4 p.m. and again from 9 p.m. to 6 a.m.
In the mornings and evenings, the on-peak rate of $0.15 per kWh will be in effect.
Navopache Electric
EV owners who get their power from Navopache Electric can choose between two TOU rate programs.
The first one helps you save money all year round, while the other gives you more flexibility in the summer.
The first-rate is known as the year-round TOU plan and comes with an off-peak price of $0.05 per kWh and an on-peak rate of $0.15 per kWh. The off-peak rate is in effect most of the time, except from 6 a.m. to 11 p.m. and 5 p.m. to 10 p.m. in the summer and from 3 p.m. to 10 p.m. in the summer.
If you opt for the utility’s winter TOU plan, the on-peak/off-peak schedule described above will apply in the winter. However, in the summer, you’ll pay $0.07 per kWh for the first 400 kWh you use and $0.11 per kWh for any additional usage.
Northern Rio Arriba Electric
Under this utility’s TOU plan, your energy rate will fluctuate from $0.08 per kWh during off-peak times to $0.16 per kWh during on-peak periods. You can contact the utility directly for more details on the TOU schedule.
Otero County Electric
Otero County Electric will charge you $0.09 per kWh from 9 p.m. to 3 p.m. the next day and $0.13 per kWh outside of these hours under its TOU program.
Public Service Company of New Mexico
This utility offers a TOU plan that combines discounted overnight EV charging with daytime rates based on energy usage.
From 5 a.m. to 10 p.m., your rate will range from $0.07 per kWh to $0.16 per kWh based on how much electricity you consume. From 10 p.m. to 5 a.m., you’ll pay just $0.03 per kWh.
Sierra Electric
Sierra Electric’s TOU plan is a great way to save on EV charging at night.
If you shift your usage to the off-peak periods between 10 p.m. and 4 p.m. the next day in the winter and from 11 p.m. to 5 p.m. the next day in the summer, your rate will drop from the on-peak rate of $0.18 per kWh to $0.11 per kWh.
Springer Electric
If you enroll in Springer Electric’s TOU billing plan, you’ll pay $0.14 per kWh from 7 a.m. to 8 p.m. and $0.07 per kWh outside of these hours.
Xcel Energy
Xcel Energy offers a bill credit of $50 annually if you enroll in the utility’s Optimize Your Charge plan.
You can qualify if at least 80% of your EV charging happens within your preferred time window from either 9 p.m. to 6 a.m., 12:30 a.m. to 9:30 a.m., or 6 a.m. to 3 p.m.
Public EV Charging Stations in New Mexico
How Many Public EV Charging Stations Are in New Mexico?
As of March 2025, New Mexico has over 350 public charging stations including 238 Level 2 and 128 DC Fast stations. There are 859 public EV charging ports, 15 Tesla Supercharger stations and 130 Tesla Supercharger ports in New Mexico.
How Much Do Public EV Charging Stations Cost in New Mexico?
The cost of charging depends on the type of station and provider.
For example, the Level 2 charging stations at the El Paso International Airport cost $0.49 per kWh while the chargers located at New Mexico state parks, such as the Caballo Lake State Park, are free to use. Generally, charging at home is cheaper than using public charging, with low residential rates and even greater savings with TOU programs.
Be sure to read our article discussing the Cost of Charging an EV at Home vs. Public Charging.
Are There Free EV Charging Stations in New Mexico?
Yes, some municipalities and organizations in New Mexico offer free EV charging as a public service.
For instance, if you’re in Lovington, Lea County Electric offers free EV charging at its main office.
Where Are Public EV Charging Stations Located in New Mexico?
Most charging options are in major cities such as Santa Fe, Albuquerque, or Las Cruces.
Stations are also rapidly appearing along highways to make longer trips more convenient.
Visit the U.S. Department of Energy’s Alternative Fuels Data Center Map of EV Charging Station Locations in New Mexico, which can be sorted and filtered based on public access, charger type (Level 1, Level 2, DC Fast), and connector type (NACS, J1772, CCS, CHAdeMO).
Home Electrification Incentives in New Mexico
Combining EV ownership with other electrification projects, such as upgrading your home with solar panels & battery storage, or investing in a heat pump, will help you save even more while reducing your environmental impact.
You may qualify for home electrification incentives through your local electricity provider in addition to the U.S. federal government. Scroll down to read tax credit and incentive details for specific home electrification technologies.
Battery Storage
The 25D Residential Clean Energy Tax Credit provides a 30% federal tax credit on the cost of new battery storage systems size 3kWh and larger.
Electrical Panels
The 25C Energy Efficient Home Improvement Tax Credit provides a federal tax credit for electrical panel upgrades needed to complete electrification projects like heat pumps and heat pump water heaters (up to 30% of project costs, capped at $600). The 25C tax credit can be used by renters, and homeowners making upgrades to their primary or secondary home.
Qualifying electrical panels must meet the standards of the National Electric Code (NEC) and have a capacity of 200 Amps or more. This means that your new/upgraded panel must be able to serve a load of at least 200 Amps, but you don’t need 200 Amps of incoming utility service. Smart panels may qualify if they allow you to serve a load of 200 Amps.
If you’re claiming 25D for a residential solar or battery storage project and the installation required you to upgrade your main panel, you may be able to apply 25D to electrical panel costs as well.
Heat Pumps & Heat Pump Water Heaters
The 25C Energy Efficient Home Improvement Tax Credit also applies to heat pumps and heat pump water heaters. A 30% federal tax credit is available (capped at $2,000 dollars). Eligible technologies must meet certain energy efficiency requirements.
Solar Panels
The 25D Residential Clean Energy Tax Credit also provides a 30% federal tax credit on the cost of photovoltaic (PV) solar panel systems.
Why Qmerit is the #1 EV Charger Installer in New Mexico
With the savings available from the New Mexico Clean Car Tax Credit combined with rebates from utilities, alongside the rapidly growing rate of EV adoption, there’s never been a better time to make the switch to electrification.
If you’re interested in exploring your at-home EV charging options or interested in taking advantage of commercial EV charging benefits to install chargers at your business, Qmerit can help.
As North America’s most trusted and largest network of certified EV charger installers, Qmerit is recommended by automakers, EV charger manufacturers, utilities, businesses, and homeowners alike. Rated #1 in customer satisfaction, our expert network has installed over 770,000 EV charging stations across the U.S. and Canada.
Discover how Qmerit is paving the way forward for residential EV charger installation and whole-home electrification solutions. Contact us today to find out how easy home electrification can be!