State Overview

New Mexico

National Solar Capacity Ranking: 17th

Data Current Through: Q3 2024

 

New Mexico State Solar Overview

Solar is an important and growing part of New Mexico’s clean energy economy, harnessing the state’s ample sunlight to generate clean electricity and create new jobs. Recent manufacturing investments and solar projects reflect the positive environment for solar and storage market growth.

New Mexico Policy Priorities:

  • New Mexico’s Renewable Portfolio Standard (RPS) sets a statewide standard for utilities to provide 50% renewable energy by 2030 and a goal of 80% by 2040. SEIA continues to support this important policy, driving clean energy growth.
  • SEIA in collaboration with REIA NM, the state affiliate, continues to advocate for policies supporting distributed energy growth. The state currently offers important solar tax credits.
  • At the PRC, establishing a successful and sustainable community solar program is important to ensuring all New Mexicans have access to the benefits of solar.

Just The Facts

  • Solar Installed (MW):

    2,854

  • National Ranking:

    16th (22nd in 2023)

  • Enough Solar Installed to Power:

    677,884 homes

  • Percentage of State's Electricity from Solar:

    11.55%

  • Solar Jobs:

    2,099

  • Solar Companies in State:

    87 (17 Manufacturers, 46 Installers/Developers, 24 Others)

  • Total Solar Investment in State:

    $4.6 billion

  • Prices have fallen:

    37% over the last 10 years

  • Growth Projection and Ranking:

    5276 MW over the next 5 years (ranks 12th)

  • Number of Installations:

    58,063

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New Mexico State Solar Policy Resources

In addition to a state law prohibiting deceptive practices and establishing rules for telephone sales, New Mexico has instituted solar-specific consumer protections in N.M.S. 1978, § 57-31-1 et seq. Solar companies must include a disclosure form published by the NM Attorney General’s office. Additionally, PPA or lease payments cannot begin until the system is interconnected and within 30 days of installation, the contractor must provide proof that permits were obtained and all required inspections passed.

Any marketing or sales presentations that include a savings estimate must provide the underlying assumptions and calculations and a disclaimer about the use of historical information, if applicable.

New Mexico Energy Storage Policy and Market Overview

New Mexico has the key policy and regulatory infrastructure to support a robust energy storage market. Streamlined interconnection, inclusive net metering, and robust demonstration programs are accelerating market growth.

In 2020, the state legislature passed the Energy Grid Modernization Roadmap Act. The act establishes various grid resilience and emission reduction-goals, while integrating energy storage, energy equity, advanced metering, and generous funding for R&D into the state Energy Department.

The state adopted several regulatory reforms that alleviate queue issues and streamline residential and small-scale systems through a fast-tracked interconnection process based on system size. The PRC also mandates reporting of storage in IRPs concreting utility-regulator transparency. Policy and regulatory reforms are successfully stimulating a growing market. New Mexico is emerging a leader in energy storage having topped US deployments in 2024, adding 50 MW of capacity in a one single quarter.

 

New Mexico Energy Storage Policy Resources