Skip Navigation

The U.S. Department of Energy and the North Carolina Clean Energy Technology Center are excited to announce that a new, modernized DSIRE is under construction. The new version of DSIRE will offer significant improvements over the current version, including expanded data accessibility and an array of new tools for site users. The new DSIRE site will be available in December 2014. Staff are currently working hard on the new version of DSIRE but are also maintaining the content of the current version of DSIRE. Thank you for your continued support and patience during this transition. We hope you are as excited for December as we are!

US Department Energy Efficiency and Renewable Energy
IREC North Carolina Solar Center
Home Glossary Links FAQs Contact About Twitter    Facebook
New Mexico

New Mexico

Incentives/Policies for Renewables & Efficiency

Printable Version
PNM - Performance-Based Solar PV Program   

Last DSIRE Review: 09/09/2014
Program Overview:
State: New Mexico
Incentive Type: Performance-Based Incentive
Eligible Renewable/Other Technologies: Solar Thermal Electric, Photovoltaics
Applicable Sectors: Commercial, Residential
Amount:These prices will step down over time as certain MW goals are met
Prices below are current as of 08/30/2014; see program website for current prices

Systems up to 10 kW: $0.035/kWh for RECs
>10 kW up to 100 kW: $0.045/kWh for RECs
>100 kW up to 1 MW: $0.02/kWh
>1 MW: Fully subscribed
Maximum Incentive:None specified
Terms:Systems up to 10 kW: 8-year contract
Systems greater than 10 kW up to 1 MW: all contracts terminate on 12/31/2020
(System must be net-metered to be eligible.)
Start Date:03/01/2006
Web Site: https://www.pnm.com/solar
Summary:

In March 2006, PNM initiated a renewable energy credit (REC) purchase program as part of its plan to comply with New Mexico's renewable portfolio standard (RPS). PNM will purchase RECs from customers who install photovoltaic (PV) and solar thermal electric systems up to 1 megawatt (MW). PNM will then be able to apply these RECs towards their obligations under the state's RPS, which requires 4% of the total generation capacity to come from solar electricity and 0.6% from distributed generation by 2020.

REC payments are based on the system's total output. PNM will purchase RECs from each participant as part of the regular monthly billing process. Participants will receive a monthly bill documenting the number of kilowatt-hours (kWh) produced by the PV system, the number of RECs purchased by PNM, the purchase price per REC and the total price of RECs purchased that billing period. REC purchase payments will be applied as a credit to the participant's electric bill on a monthly basis. REC prices will decline over time as certain MW targets are met. The prices included here are current as of August 30, 2014.

Systems up to 10 kW

PNM will purchase RECs generated by small PV systems at a rate of $0.035 per kWh for 8 years of the system's operation. If the amount paid for the RECs is greater than the total of the customer's monthly electric service plus kWh charges, the balance of the REC payment will be carried forward as a credit for the following month's bill if $20 or less. If the REC payment balance is greater than $20 after credits to the customer's electric bill have been made, the entire REC payment balance will be paid directly to the customer.

Systems greater than 10 kW up to 1 MW

PNM will purchase RECs associated with the electricity generated by large PV systems and used on-site. All contracts terminate on 12/31/2020. The incentive rate paid depends on the size of the system:

  • Systems larger than10 kW up to 100 kW: $0.045 per kWh
  • Systems larger than 100 kW up to 1 MW: $0.02 per kWh

These incentive levels will each step down independently over time as certain MW goals are reached. If the amount paid for the RECs is greater than the total of the customer's monthly electric service plus kWh charges, the balance of the REC payment will be carried forward as a credit for the following month's bill if $200 or less. If the REC payment balance is greater than $200 after credits to the customer's electric bill have been made, the entire REC payment balance will be paid directly to the customer. PNM is granted at no cost any RECs associated with net excess generation. 


 
Contact:
  PV Incentive Program
PNM
Customer Generation Programs
Alvarado Square
MS 0510
Albuquerque, NM 87158-0001
Phone: (505) 241-2750
Web Site: http://www.pnm.com
NCSU - home
Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.