Renewable Portfolio Standard
In March 2004, New Mexico’s governor signed into law the Renewable Energy Act (S.B. 43), creating a state renewable portfolio standard (RPS). By 2020, investor-owned utilities (IOUs) are required to generate 20% of total retail sales from renewable energy resources, and rural electric cooperatives are required to generate 10% of total retail sales from renewable energy resources. This requirement was later increased by S.B. 489 of 2019.
Eligible Technologies
Renewable energy is defined as electric energy generated by low- or zero-emissions generation technology with substantial long-term production potential; solar; wind; geothermal; hydropower facilities brought in service after July 1, 2007
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