SANTA FE – Gov. Michelle Lujan Grisham on Tuesday signed a group of bills that will expand New Mexico’s capacity for solar energy and help modernize the state’s electric grid, advancing her administration’s work in the reduction of greenhouse gas emissions, economic diversification and renewable energy sector expansion.
“Climate change is a monumental challenge that requires innovative solutions,” Gov. Lujan Grisham said. “Thanks to the leadership of these bill sponsors and the support of the Legislature, we have additional tools to meet this crisis head-on. By making solar power more accessible to New Mexicans, addressing our electric grid, and establishing tools to help expand the transmission infrastructure, we are ensuring that New Mexico is on the right track – and creating more jobs, reducing emissions and saving New Mexicans money on their electric bills.”
Senate Bill 29 – sponsored by Sen. Mimi Stewart and Rep. Matthew McQueen – relaunches a popular tax incentive that expired in 2016. The 10 percent tax credit toward the purchase of a solar system is available to New Mexico residents and business owners with a $6,000 cap per taxpayer per year. When the previous credit expired, solar jobs fell 25 percent across New Mexico. By reinstating the credit, we create more renewable energy jobs, reduce emissions in the electricity sector and save New Mexicans money on their electricity bills.