Today, the US Environmental Protection Agency announced that $156 million has been awarded to New Mexico from the agency's $7 billion Solar for all competition.
New Mexico’s Solar for All Program will be administered by the Energy Minerals and Natural Resources Department and is designed to make solar energy available to over 20,000 households that probably wouldn’t be able to establish access to this renewable energy.
Gov. Michelle Lujan Grisham said, “The EPA’s Solar for All program is an unprecedented investment in clean, affordable renewable energy for low-income communities across the country. It is only natural that New Mexico—a national leader in clean energy —would be among the states selected to participate. This will help ensure that all New Mexicans, regardless of income level, can benefit from our clean energy transition.”
The Energy Conservation and Management Division is estimating that New Mexico residents will save almost $300 million in energy cost over a 20 year period through the Solar for All Program.
It is also estimated that it will prevent over 115,000 tons of carbon dioxide from being released into the atmosphere.
With this federal funding secured, the Energy, Minerals and Natural Resource Department will develop an official state program that should allow solar installations through this program to begin in early 2025.
The Energy, Minerals and Natural Resources Department plans to distribute the Solar for All Program funding through a series of grants and affordable loans that will be available to entities that plan on providing power to rural and low income homes across the state.
Shared solar projects, also known as community solar, creates a solar installation that multiple households and renters can draw power from.
The Energy, Minerals and Natural Resources Department will be collaborating with the New Mexico Public Regulation Commission to ensure that community solar installation will function properly by investing in upgrades to local utility power infrastructure.
