New Mexico

Heat pump incentives in New Mexico

No statewide rebate program

verified 2026-07

Incentives run through your utility

New Mexico's home energy rebates are live in phases (launched September 3, 2024). Source: https://clean.energy.nm.gov/programs/hear/, fetched 2026-10-07. Check Public Service Company of New Mexico (PNM), El Paso Electric, or rural cooperatives for utility heat pump rebates.

Utility programs in New Mexico

These are the named utility and ratepayer rebates on file for New Mexico. You claim the one that serves your address, not the total. Each card carries the program’s own terms: what equipment qualifies, who is eligible, what the cap actually is, and whether it stacks.

PNM

pnm.com

$800

maximum

You claim it after installTiered by efficiency

Public Service Company of New Mexico (PNM). https://www.pnm.com

Equipment that qualifies: Qualifying air-source heat pump.
Who qualifies, and the cap: PNM New Mexico residential customers; pre-approval required for rebates over $500.
Stacking: Confirm additional PNM measure rebates.

El Paso Electric

epelectric.com

Varies

by measure

You claim it after installVaries by measure

Southern New Mexico; programs vary.

Equipment that qualifies: Confirm SEER2/HSPF2 tier with the program.
Who qualifies, and the cap: El Paso Electric (southern New Mexico) programs vary; confirm any current HP rebate directly.
Stacking: Confirm with program.

Tri-State (Electrify and Save member co-ops)

tristate.coop

$5,500

maximum

You claim it after installVaries by measure

Tri-State Generation & Transmission co-op wholesaler: heat pump rebates of $675 to $5,500 delivered THROUGH its member distribution co-ops via the Electrify and Save program (10,000+ electrification/efficiency rebates issued; 1,864 rebates in 2025, +46% YoY). Tri-State serves member distribution co-ops across New Mexico (e.g., Kit Carson successor territory, Mora-San Miguel, Central New Mexico, Otero County, Springer). The exact amount is set by your local member co-op; confirm with them. On-bill repayment up to 10 years available.

Equipment that qualifies: Qualifying air-source heat pump; efficiency tier set by the member co-op. Confirm SEER2/HSPF2 with your co-op.
Who qualifies, and the cap: Members of Tri-State's distribution co-ops. Tri-State serves member distribution co-ops across New Mexico (e.g., Kit Carson successor territory, Mora-San Miguel, Central New Mexico, Otero County, Springer). Rebate amount varies by member co-op ($675-$5,500 program range); confirm current terms with your local co-op before quoting.
Stacking: Electrify and Save also covers HPWH, insulation/air sealing, panel upgrades, thermostats and EV charging as separate measures; on-bill repayment is an alternative to an upfront rebate.

Rebate amounts are estimates and subject to change.
Eligibility varies by income, equipment efficiency, utility territory, and program funding availability.
The federal HEAR rebate was renamed High-Efficiency Electric Home Rebates on May 29, 2026, and its rules were changed (https://www.energy.gov/documents/program-notice-26-2, fetched 2026-10-14). States run it, and many have not opened. Check your state energy office for current rebates.
After-install rebates are claimed by the homeowner after installation and are not guaranteed at the point of sale.