New Mexico Incentives/Policies for Renewables & Efficiency |
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Last DSIRE Review: 01/08/2013
Program Overview:
| State: |
New Mexico |
| Incentive Type: |
Performance-Based Incentive |
| Eligible Renewable/Other Technologies: |
Photovoltaics, Wind, Other Distributed Generation Technologies |
| Applicable Sectors: |
Commercial, Industrial, Residential, Nonprofit, State Government, Fed. Government |
| Amount: | Systems 10 kW or less installed after January 1, 2013:
PV: $0.06/kWh for RECs produced for a period of 12 years
Wind: $0.04 /kWh for RECs produced for a period of 12 years
Systems greater than 10 kW and up to 100 kW installed after January 1, 2013:
PV: $0.06/kWh for RECs produced for a period of 12 years
Wind: $0.02/kWh for RECs produced for a period of 12 years
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| Terms: | Must have a REC meter installed |
| Ownership of Renewable Energy Credits: | El Paso Electric Company |
| Start Date: | 3/1/2009 |
| Web Site: |
http://www.epelectric.com/nm/residential/renewable-energy-interco...
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Summary:
Effective January 1, 2010, El Paso Electric is purchasing renewable energy certificates (RECs) from its New Mexico customers who install small photovoltaic (PV) systems and wind systems up to 10 kilowatts (kW) in capacity, and medium systems between 10 kW and 100 kW. The RECs that El Paso Electric purchases will help the utility comply with New Mexico's renewable portfolio standard (RPS), and provide a financial incentive for homeowners and businesses to install PV and wind energy systems.
Only systems connected to the utility's grid and net-metered are eligible. REC's will be measured by a separate REC meter and purchased by El Paso Electric on a monthly basis. For contracts signed between 1/1/2013 and 6/30/2013, the utility will purchase the REC's from a PV system at a rate of $0.06 per kilowatt-hour (kWh) for small systems and $0.06 for medium systems. The utility will purchase the REC's from a wind energy system at a rate of $0.04 per kilowatt-hour (kWh) for small systems and $0.02 for medium systems. These rates will step down over time.
Payments will not be made for any RECs produced by a medium system that are in excess of the kWh consumed by the site during a month. Payments will be made for a period of 12 years. REC purchase payments will appear as a credit on the customer's monthly bill. Any credit balance up to $30.00 will be applied to the following month's bill. Once the rolling credit exceeds $30.00 a direct payment will be made to the customer.
See application for further details. |
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.
While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.
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