NM HB154

Amends the definition of "advanced energy product" in both the individual and corporate income tax credits for advanced energy equipment manufacturing in New Mexico

Adds fusion machines and their components to the list of qualifying advanced energy products, including systems that transform atomic nuclei through fusion processes into different elements, isotopes, or particles

Adds inverters as qualifying products, including central, commercial, residential, microinverter, distributed wind, and utility inverters that convert DC energy from solar modules or wind systems to AC electricity

Existing qualifying products remain unchanged: solar components, wind energy components, battery components, and critical minerals when converted or purified to specified forms

Applies to taxable years beginning on or after January 1, 2026