The Future of Renewable Energy in New Mexico
Everyone Benefits from Large Solar and Wind Farms
Large solar and wind projects have a history in New Mexico of creating good jobs and delivering positive economic benefits, while reducing pollution. These type of solar or wind facilities operate at economies of scale that make the electricity they produce more affordable for everyone.
A 2015 report from the New Mexico Energy, Minerals and Natural Resources Department found that the Renewable Energy Production Tax Credit had tremendous job, economic and environmental benefits for all New Mexicans:
- Large scale solar and wind projects brought more than 9,000 jobs with wages totaling $400 million between 2003 and 2012 to New Mexico.
- These type of large renewable energy sites also produced 11 million less tons of greenhouse gas emissions and 30,000 less tons of criteria air contaminants over the same period, a cost savings of $400 million in avoided emissions.
- These projects bring good jobs and good wages while avoiding the added costs and hazards of pollution, while providing clean, affordable energy for all New Mexicans.
Working families and small businesses benefit from the affordable electricity large scale renewable facilities deliver to everyone.
Future Growth of Renewable at Risk
The Tax Credit that helped encourage investment in these projects will expire on January 1, 2018, leaving New Mexico caught short when it comes to realizing the full economic benefits of renewable opportunities in the state.
Renewables can become New Mexico’s next export crop. Additional renewable energy facilities enable the state to export energy elsewhere, creating a new source of tax revenue for the state while creating a positive economic benefit.
We can't let the sun set on the tremendous benefits that solar energy and other renewables have delivered to New Mexicans.
Speak out for renewable energy tax credits and ask your legislators for their support for affordable renewable energy for everyone!