New Mexico Gas Company offers rebates from $100 to $300 when you have a licensed and insured participating contractor install a high efficiency ENERGY STAR water heater. Rebates are available for qualifying tankless and storage tank models.

GEOTHERMAL GROUND-COUPLED HEAT PUMP TAX CREDIT. HB 375, signed in April 2009, created a tax credit in New Mexico for geothermal heat pumps purchased and installed between January 1, 2010 and December 31, 2020 on property owned by the tax payer. The credit is worth 30% of the system's cost up to $9,000 and can be applied to individual or corporate income taxes. Any unused credit may be carried forward for up to 10 years.

New Mexico Gas Company offers rebates from $200 to $375 when you have a licensed and insured participating contractor install a high efficiency gas furnace or boiler with an annual fuel utilization efficiency (AFUE) rating of 92% or higher in your home.