1. A. Prior to July 1, 2034, receipts from selling wind generation equipment or solar generation equipment to a government for the purpose of installing a wind or solar electric generation facility may be deducted from gross receipts.
2. B. Prior to July 1, 2034, receipts from selling energy storage equipment or related equipment to a government for the purpose of installing an energy storage facility may be deducted from gross receipts.

3. C. As used in this section:

   1. (1) "energy storage equipment" means equipment that is installed for the purpose of storing electric energy in an energy storage facility that uses mechanical, chemical, thermal, kinetic or other processes to store energy for release at a later time to integrate energy supply associated with renewable generation across the electric grid;
   2. (2) "government" means the United States or the state or a governmental unit or a subdivision, agency, department or instrumentality of the federal government or the state;

   3. (3) "related equipment" means transformers, power conversion equipment, circuit breakers and switching and metering equipment used to connect:

      1. (a) a wind or solar electric generation plant to the electric grid; or
      2. (b) an energy storage facility to the electric grid or to a wind or solar electric generation plant;
   4. (4) "solar generation equipment" means solar thermal energy collection, concentration and heat transfer and conversion equipment; solar tracking hardware and software; photovoltaic panels and inverters; support structures; turbines and associated electrical generating equipment used to generate electricity from solar thermal energy; and related equipment; and
   5. (5) "wind generation equipment" means wind generation turbines, blades, nacelles, rotors and supporting structures used to generate electricity from wind and related equipment.

History: Laws 2002, ch. 37, § 8; 2010, ch. 77, § 2; 2010, ch. 78, § 2; 2024, ch. 67, § 11.

ANNOTATIONS

The 2024 amendment, effective July 1, 2024, provided a sunset of July 1, 2034 for the gross receipts tax deduction on the sale of wind generation equipment and solar generation equipment to a government, and included in the provisions of the section a gross receipts tax deduction for the sale of energy storage equipment to a government; in the section heading, after "generation equipment", added "energy storage equipment"; in Subsection A, added "Prior to July 1, 2034"; in Subsection B, deleted "The deduction allowed pursuant to this section shall not be claimed for receipts from an expenditure for which a taxpayer claims a credit pursuant to Section 7-2-18.25, 7-2A-25 or 7-9G-2 NMSA 1978" and added "Prior to July 1, 2034, receipts from selling energy storage equipment or related equipment to a government for the purpose of installing an energy storage facility may be deducted from gross receipts"; and in Subsection C, added new Paragraph C(1) and redesignated former Paragraphs C(1) through C(4) as Paragraphs C(2) through C(5), respectively, in Paragraph C(3), after "transformers", added "power conversion equipment", and added Subparagraph C(3)(b).

The 2010 amendment, effective July 1, 2010, in the catchline, after "wind", deleted "energy" and added "and solar" and after "sales to", deleted "government agencies" and added "governments"; in Subsection A, after "selling wind generation", deleted "nacelles, rotors or related equipment to the United States or New Mexico or any governmental unit or subdivision, agency, department or instrumentality thereof, if such equipment is installed on a supporting structure" and added "equipment or solar generation equipment to a government for the purpose of installing a wind or solar electric generation facility"; and added Subsections B and C.