Energy Incentives

Advanced Energy Technologies Economic Development Act

Due to its abundance of natural and renewable-energy resources, New Mexico is ideally positioned to stimulate economic development of hydrogen, fuel cell, renewable energy and energy efficiency technologies. The Advanced Energy Technologies Economic Development Act, 71-7-1 NMSA 1978, provides funds to stimulate early market demand that will advance the commercialization and widespread application of advanced energy technologies. In particular, the act seeks a targeted program that advances the creation of a hydrogen and fuel-cell industry cluster.

Under the act, a technology-development program shall include:

  • establishing public-private partnerships among the state, national laboratories, nonprofit organizations and industry to provide guidance and support for hydrogen and fuel-cell initiatives;
  • supporting activities to adopt uniform hydrogen safety codes and standards and provide education and training;
  • developing demonstration projects by pursuing federal funds and other available funds to augment state resources;
  • advancing public education about hydrogen and fuel-cell technologies;
  • building the necessary infrastructure to support commercial use and adoption of hydrogen and fuel-cell technologies; and
  • coordinating and supporting research and education activities in hydrogen and fuel cells between state universities and federally funded research and development organizations in the state to promote closer cooperation and advance the state’s overall capabilities and programs in hydrogen and fuel-cell technologies.

Clean Energy Grants

Created under the Advanced Energy Technologies Economic Development Act, the Clean Energy Grants program, 71-7-6 NMSA 1978, provides funds for physical projects utilizing clean-energy technologies and clean-energy education, technical assistance and training programs. The Energy, Minerals and Natural Resources Department may make Clean Energy Grants to:

  • municipalities and county governments;
  • state agencies;
  • state universities;
  • public schools; and
  • post-secondary educational institutions.

No single entity may receive more than $100,000.

Factors that may be considered in approving or denying disbursements from the fund are:

  • the geographic area of the state in which the project is to be conducted in relation to other projects;
  • percentage of cash or in-kind contributions applied to the total project;
  • the extent to which the project incorporates an innovative new technology or an innovative application of an existing technology;
  • the degree to which the project will reduce the entity’s energy-related expenditures;
  • the degree to which the project fosters the overall understanding and appreciation of clean-energy technologies by the general public, students or a specific government or industry sector; and
  • the extent to which the project stimulates in-state economic development, including job creation, and further development of a commercial market for clean-energy technologies.