New Mexico's Energy Efficiency and Renewable Energy Bonding Act, which became law in April 2005, authorizes up to $20,000,000 in bonds to finance energy efficiency and renewable energy improvements in state government and school district buildings. At the request of a state agency or school district, the New Mexico Energy, Minerals and Natural Resources Department will conduct an energy assessment of a building to determine specific efficiency measures which will result in energy and cost savings. A state agency or school district may install or enter into contracts for the installation of energy efficiency measures on the building identified in the assessment. An installation contract may be entered into for a term of up to 10 years.
The bonds are exempt from taxation by the state, and any type of renewable energy system and most energy efficiency measures, including energy recovery and combined heat and power (CHP) systems, are eligible for funding. Projects financed with the bonds will be paid back to the bonding authority using the savings on energy bills.
| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | New Mexico |
| Incentive Type: | Bond Program |
| Web Site: | http://www.emnrd.state.nm.us/ECMD/CleanEnergyTaxIncentives/CREB.html |
| Administrator: | New Mexico Finance Authority |
| Start Date: | |
| Eligible Renewable/Other Technologies: |
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| Incentive Amount: | Varies |
| Name: | N.M. Stat. § 6-21D-1 et seq. |
| Date Enacted: | 07/01/2005, subsequently amended |
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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