New Mexico Legislative Session Advances Clean Energy Initiatives

SANTA FE, NM— As New Mexico’s 2024 legislative session closed yesterday, the advanced energy industry made strides despite a busy session with competing priorities.

With bills advancing clean transportation, enabling building electrification, incentivizing clean energy solutions, and enhancing electric vehicle infrastructure, the session resulted in the passage of key legislation affirming New Mexico’s dedication to achieving a clean energy economy.

Advanced Energy United (United) New Mexico Policy Lead Michael Barrio provided the following statement:

“This year, we've secured vital legislation that strengthens our commitment to clean energy. These aren’t just policy wins but a collective effort to drive economic growth, support innovation, and ensure environmental sustainability for future generations. While some goals, like school bus electrification and comprehensive support for innovative clean energy technologies, await future sessions, this legislation underscores the state’s deep commitment to energy innovation.

These steps are foundational for New Mexico's economic progress, showcasing a collective effort toward a cleaner, more resilient future. At United, we are happy to celebrate these milestones and continue pushing forward. We believe that, together, we're building a more resilient tomorrow.

Our continued advocacy and engagement are critical as we build on this momentum. United looks forward to working alongside our members and the New Mexico Legislature to harness the opportunities made possible with these legislative developments.”

A comprehensive review of bills that passed:

• HB 41 introduces a Clean Transportation Fuels Standard, a big step towards reducing the carbon intensity of transportation fuels and encouraging cleaner fuel production practices.
• HB 91 and HB 92, along with SB 58 and SB 59, highlight New Mexico's focus on geothermal energy as a cornerstone of New Mexico’s clean energy strategy, offering financial incentives and support for development and adoption.
• HB 140 and SB 8, now part of a broader tax package, incentivize clean vehicle purchases and charging infrastructure, marking a significant advancement in our clean transportation agenda.
• HB 143 amends revenue bond acts to support electric energy storage, benefiting school districts and promoting clean energy storage solutions.
• SB 40 extends and increases tax credits for geothermal heat pump systems, demonstrating New Mexico's investment in geothermal heating and cooling technologies.
• HB 177 establishes the New Mexico Match Fund, enhancing our ability to leverage federal grants for clean energy and infrastructure projects, further solidifying our state's commitment to sustainable development.

Click here to learn more about Advanced Energy United's work in New Mexico.