In March 2005, the New Mexico legislature passed three bills to promote energy efficiency and renewable energy investments in the state.
- The Energy Efficiency and Renewable Energy Bonding Act allows the sale of $20 million in bonds to support energy efficiency and solar projects in existing public buildings. The New Mexico Department of Energy, Minerals, and Natural Resources, the bond administrator, estimates that the act will save the state $46 million in electricity costs over the 20-year life of the bonds.
- The Efficient Use of Energy Act encourages public gas and electric utilities to invest in energy efficiency. The act directs utilities to explore cost-effective efficiency investments, in order to reduce electricity consumption, the associated emissions, and the flow of money to out-of- state electricity generators.
- The Natural Resources Conservation Bids Act facilitates energy efficiency upgrades to public buildings.
These legislative initiatives were developed in part by Governor Richardson’s Clean Energy Task Forces created last year. The Task Forces were created in response to an executive order declaring New Mexico the “Clean Energy State”.
Read the Energy Efficiency and Renewable Energy Bonding Act (pdf)
Read the Efficient Use of Energy Act (pdf)
Read the Natural Resources Conservation Bids Act (pdf)
Read the “Clean Energy State” Executive Order (pdf)