Alternative Fuel Vehicle (AFV) Loans

Alternative Fuel Vehicle (AFV) Loans

Country/State/Province
New Mexico
Incentive
Financial Incentive
Incentive Administrator
New Mexico Energy, Minerals and Natural Resources Department

The New Mexico Energy, Minerals and Natural Resources Department’s Alternative Fuel Acquisition Revolving Loan Program provides loans to state agencies, political subdivisions, and educational institutions for AFV acquisitions. Funds must be used for the purchase of vehicles that operate on natural gas, propane, electricity, or hydrogen. The maximum amount of a loan per vehicle must not exceed the incremental cost of acquiring the vehicle or the following amounts:

Up to 14,000 lbs: $5,000

14,000 - 26,000 lbs: $10,000

Over 26,000 lbs: $20,000