Big Benefits To New Mexico From New Energy

New Mexico’s ‘Energy Crossroads’: Report Makes Case For More Renewables

Joseph Bebon, October 23, 2017 (Solar Industry)

“…[Significantly increasing New Mexico’s share of electricity from solar and wind would spur job creation, improve public health and benefit the environment…[and is the state’s cheapest option even though its] largest utilities continue to plan for long-term investments in natural gas expansion…[According to Committing to Renewables in New Mexico Boosting the State’s Economy, Generating Dividends for All,] New Mexico’s remaining coal plants are facing strong market pressure to retire early due to unfavorable economics…[and, in 2016,] renewables accounted for 14% of New Mexico’s electricity production…[Earlier] this year, the New Mexico legislature proposed [but did not approve] strengthening the current [20% by 2020 RPS] to 50% by 2030 and 80% by 2040…[W]ith a strengthened RPS, New Mexico would nearly triple its 2016 wind capacity and more than double its 2016 solar capacity by 2030. This increased capacity would result in more than $6 billion in capital investment; nearly 2,400 new jobs in construction, operations, maintenance and other related fields by 2030; $21 million annually in state and local tax revenue; and as much as $9.5 million annually in land-lease payments…[and] typical monthly electric bills for households in most years would be lower than they were in 2016…” click here for more

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