Does New Mexico charge a demand charge on EV charging?

Not on the covered schedule. PNM's Rate 3F is a filed EV-exclusive rate with time-of-use energy prices and no demand charge — the minimum bill is the customer charge. PNM's standard commercial alternatives carry both a demand charge and a load-factor qualification a charging site fails, which is why the utility's own filed design routes charging onto 3F.

How much is the clean-fuels credit worth?

The model carries $0.019 per kWh — about $15,000 a year gross at default volumes — as a deliberately conservative figure: the program's 2026 band runs to $0.022 at a $25-per-credit price, and West Coast programs have traded far higher. The first New Mexico quarterly reports land around August 2026, and the field re-derives when real prices print.

Is there a per-kWh charging tax in New Mexico?

No — none is in force and none was found pending. New Mexico's charging-specific fiscal instruments run the other way: the clean-fuels credit and the $25,000-per-charger installation tax credit.

ForgeAsset / Supercharger ROI / New Mexico

Tesla Supercharger ROI in New Mexico

New Mexico pairs the cheapest EV-specific rate design in the covered set with something only three other covered states have: a live clean-fuels credit market that pays charging sites. PNM's Rate 3F prices time-of-use energy with no demand charge at all, and the Clean Transportation Fuel Program — live since April 2026, the first outside the West Coast — credits the charging-site owner directly for every kWh dispensed. The program is three months old, so the revenue line carries a conservative marked assumption until the first credits trade.

Model a New Mexico site

What makes New Mexico economics distinct

The cheapest EV-specific rate in the covered set

PNM's Rate 3F serves separately metered non-residential charging with two seasonal on-peak windows and no demand charge — the minimum bill is the $77 customer charge. At default charging-site volumes the bundled bill runs near $9,600 a month, the lowest of any covered EV-specific schedule. About $218 per month of fixed rider charges sits outside the model and is disclosed.

A clean-fuels market that pays the site — carefully modeled

The Clean Transportation Fuel Program went live April 1, 2026, and for public charging the credits belong to the equipment owner, not the utility. The model carries $0.019 per kWh — the conservative end of the program's first-year band, priced at an out-of-state $25-per-credit anchor, because PNM's utility-specific carbon intensity is not yet published and no New Mexico credit has publicly traded. The field is editable and re-derives as the market matures.

A $25,000-per-charger state credit the model discloses but does not count

New Mexico's Clean Car Charging Unit income-tax credit runs $25,000 per DC fast charging unit (or the cost, if less) for installations through 2029 — roughly $200,000 of ceiling on an eight-stall site. Whether it is refundable or reliably usable against a site owner's New Mexico liability was not verifiable from the statute detail, so it rides as a disclosure rather than modeled revenue.

The gross receipts tax reaches further than a sales tax

New Mexico's GRT rides the utility bill (folded into the modeled rates at Albuquerque's 7.625%), the hardware purchase, and — unlike most covered states — installation labor, which the hardware-only capex line understates. Against that: a $0 entity floor with no LLC annual report or franchise tax, and no per-kWh charging tax.

Utilities and tariffs modeled in New Mexico

Utility & tariff	Energy	Demand
PNM Rate 3F EV Charging	10.7¢/kWh–21.0¢/kWh by time of day	none (energy-only)

Rates are digit-verified against each utility's own filed sheets and update within two weeks of any revision. Full derivations are on the methodology page.

New Mexico tax profile

Sales tax on hardware: 7.63%
Business personal property tax: 1.41% of equipment value (example rate)
Clean-fuels credit: 1.9¢/kWh modeled revenue line
Per-kWh charging excise: none

New Mexico tax defaults applied: the Clean Transportation Fuel Program credit revenue line is live at $0.019/kWh — the conservative end of the program's first-year band, priced at an out-of-state $25-per-credit anchor because no New Mexico credit has publicly traded yet and PNM's utility-specific carbon intensity is not yet published; the field is editable and re-derives as the program matures. LLC costs are $0 — New Mexico LLCs file no annual report and owe no franchise tax. Sales tax uses Albuquerque's 7.625% gross receipts rate; New Mexico's GRT also reaches installation labor, which the hardware-only capex line understates. Business personal property runs about 1.41% of depreciated cost per year in Albuquerque. No per-kWh charging tax exists in New Mexico. A state income-tax credit of $25,000 per DC fast charging unit (installs through 2029) is not modeled pending verification of its refundability.

New Mexico programs and incentives

Clean Transportation Fuel Program (NMED, 20.2.92 NMAC)

Live since 2026-04-01. Charging-site equipment owners register, report quarterly, and generate tradeable credits — the model's revenue line at $0.019/kWh, marked as an assumption until New Mexico prices print.

Clean Car Charging Unit tax credit (NMSA 7-2-18.37 / 7-2A-19.2)

$25,000 per DC fast charging unit or the cost to purchase and install, whichever is less, for installations from May 2024 through 2029. A state income-tax credit — disclosed, not modeled, pending refundability verification.

PNM Transportation Electrification Program make-ready

Rider-funded commercial make-ready support; program terms vary by cycle. TEP-funded stations on Rate 3F must maintain the schedule's retail price differential.

NEVI (federal, NMDOT-administered)

Federal corridor DC fast-charging funding along I-25 and I-40, administered in award rounds.

New Mexico charging market

New Mexico carries roughly 23 Supercharger stations along I-25 and I-40. PNM serves Albuquerque, Rio Rancho, and Santa Fe — the bulk of the state's population and both interstate corridors. Las Cruces is El Paso Electric territory and Farmington and Los Alamos run their own utilities; the model does not yet cover them, and addresses there see a named-utility notice rather than a wrong auto-selection.

New Mexico Supercharger ROI — questions

Does New Mexico charge a demand charge on EV charging?: Not on the covered schedule. PNM's Rate 3F is a filed EV-exclusive rate with time-of-use energy prices and no demand charge — the minimum bill is the customer charge. PNM's standard commercial alternatives carry both a demand charge and a load-factor qualification a charging site fails, which is why the utility's own filed design routes charging onto 3F.
How much is the clean-fuels credit worth?: The model carries $0.019 per kWh — about $15,000 a year gross at default volumes — as a deliberately conservative figure: the program's 2026 band runs to $0.022 at a $25-per-credit price, and West Coast programs have traded far higher. The first New Mexico quarterly reports land around August 2026, and the field re-derives when real prices print.
Is there a per-kWh charging tax in New Mexico?: No — none is in force and none was found pending. New Mexico's charging-specific fiscal instruments run the other way: the clean-fuels credit and the $25,000-per-charger installation tax credit.

Sources

Model a Tesla V4 Supercharger site in New Mexico — payback, NPV, IRR, and a 15-year cash flow from your own inputs.

Run a New Mexico scenario

Other states: California, North Carolina, Georgia, Oregon, Pennsylvania, Florida, Arizona, Texas, Virginia, Illinois, Michigan, Tennessee, Montana, Idaho, Kansas, Nebraska, North Dakota, South Dakota, Wyoming, Oklahoma, Alabama, Missouri. Coverage spans twenty-three states in total — see the full list.

ForgeAsset is software, not investment, tax, or legal advice — outputs are model estimates from your inputs, not guarantees. Rates and programs current as of research; verify current terms with each source before committing capital.