Both the Public Service Company of New Mexico (PNM) and the New Mexico Gas Company offer rebates for various residential and commercial energy efficiency installations: 

PNM Rebates

New Mexico Gas Company Rebates

Tax Credits
The federal government offers a 30% tax credit on the purchase of renewable energy systems like solar panels.  Businesses may be eligible for a direct payment in lieu of a tax credit as directed at the U.S. Treasury Department's website.

The State of New Mexico offers an additional 10% tax credit on these systems. 

In addition, residents and businesses are eligible for a number of other federal tax breaks for energy efficiency projects and the purchase of hybrid and electric vehicles.

Incentives
PNM offers a payment for electricity generated from solar photovoltaic systems.  Find out more at: PNM's website.