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NM House Committee Passes Renewable Energy Bills

U.S. Department of Energy

A State House Committee approved a series of bills this weekend designed to increase the use of renewable energy in New Mexico.

The Energy Storage System Tax Credit would offer homes and businesses a 40-percent tax credit for energy storage systems installed before 2025.

Several renewable energy organizations have thrown their support behind the bill. 

 Jim Desjardins is the Executive Director of the Renewable Energy Association of New Mexico. He said energy resilience will be a very important business sector in the future and New Mexico is well positioned to take advantage.

“We have two national labs. We have some great universities here that specialize in this, but we are behind," he said. "Right now in California eight-percent of the solar systems that are sold for homes and businesses have storage. We’re at about one-percent in New Mexico. So there is a lot we need to do and this bill is meant to jumpstart that industry.”         

Two other bills passed the Energy, Environment, and Natural Resources Committee. One would extend and double the Solar Market Development Income Tax Credit and the other would extend the Geothermal Ground-Coupled Heat Pump Tax Credit.