Alternative Fuel Vehicle Loan Program

December 10, 2021


The Alternative Fuel Acquisition Loan Fund was created in the state treasury as a revolving loan fund. The fund balance does not exceed $5 million and is administered by the New Mexico Department of Energy, Minerals, and Natural Resources. The loans are for the state government, political subdivisions, and educational institutions. For more information, visit the program website.

Program Overview

Implementing Sector: State
Category: Financial Incentive
State: New Mexico
Incentive Type: Loan Program
Web Site:!fragment/zoupio-_Toc60646458/BQCwhgziBcwMYgK4DsDWszIQewE4BUBTADwBdoAvbRABwEtsBaAfX2zgDYAGDgFj4CsADgCUAGmTZShCAEVEhXAE9oAclViIhMLgTzFK9Zu26QAZTykAQioBKAUQAy9gGoBBAHIBhe2NJgAI2hSdhERIA
Administrator: New Mexico Department of Energy, Minerals, and Natural Resources
Start Date:
Eligible Renewable/Other Technologies:
  • Medium-Duty Electric Vehicles
  • Heavy-Duty Electric Vehicles
Maximum Loan: Vehicles up to 14,000 lbs: $5,000
Vehicles from 14,000 lbs - 26,000 lbs: $10,000
Vehicles over 26,000 lbs: $20,000
Loan Term: 7 years maximum
Interest Rate: 0%


This program has 1 incentives
Technologies: Medium-Duty Electric Vehicles, Heavy-Duty Electric Vehicles
Sectors: Local Government, Schools, State Government, Institutional
Parameters: The incentive has a maximum of $5000.00, The incentive has a minimum of $20000.00


Name: New Mexico Statutes 13-B1, et seq.

This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.