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Green is Gold

New Mexico Mandates Renewable Utilities

August 9th 2007

Energy / Environment - OK Turbine

Among America’s leading energy producers in the 20th century, New Mexico now is poised to become a powerhouse in the rapidly evolving clean-energy economy of the 21st century. A new law taking effect next month promises to help New Mexicans quite literally tower over the competition as states scramble to cash in on the burgeoning market for cleaner and more predictably priced power.

The state has enacted a combination of innovative tax incentives and ambitious standards designed to make the most of New Mexico’s abundant renewable energy resources— wind, solar and biomass— and encourage new ways to make traditional energy sources cleaner and reduce the amount of climate-changing greenhouse gases they produce.

Tax credits make investment in commercial-scale renewable energy technologies more attractive. Stronger “Renewable Portfolio Standards” embraced by the Legislature— requiring major utilities to produce 15 percent of their power from renewable resources by 2015 and 20 percent by 2020— make those investments necessary. Read more ..



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