New Mexico's renewable portfolio standard calls for 20% of the generation requirement to come from solar by 2020. Additionally, 3% is mandated to come from distributed generation. Although there is a specific solar requirement, the state does not currently have a viable SREC market. New Mexico has not put in place a solar alternative compliance payment (SACP) to help drive a market price for SRECs. Investor Owned Utilities are required to purchase RECs to meet RPS requirements, but have implemented direct buy-back programs to achieve the requirements.
Markets for NM systems
Eligible System Locations
By 2020, 20% of the RPS requirement from solar and 3% of the RPS requirement from distributed generation.
Utilities with REC buy-back programs install production meters to measure a PV system's production on a monthly basis.
None currently in place.
SRECs may be carried forward for up to 4 years from the date of creation.
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