Energy

HB 303 requires New Mexico public utilities to obtain a certificate from the Public Regulation Commission before providing new service or extending systems, with limited exceptions for existing service areas or routine business expansions. It specifically mandates that energy storage projects be approved if they reduce costs, cut fossil fuel use during peak demand, improve grid reliability with renewables, and lower emissions. The bill sets strict deadlines for commission decisions (six months for energy storage projects, nine months otherwise), with automatic approval if deadlines are missed. The law takes immediate effect as an emergency measure.

HB 153 establishes a state rebate program to incentivize the use of low-carbon construction materials, such as cement, steel, and glass, in eligible projects (over one residential unit or 5,000 square feet of nonresidential space). Material buyers (e.g., developers or contractors) can receive rebates for purchasing materials meeting emissions benchmarks set by the Department of Environment - 15% below industry-average greenhouse gas emissions - verified through independently assessed environmental product declarations. Rebates are capped at $500,000 per project and $10 million statewide annually, with priority given to projects achieving the greatest emissions reductions and using New Mexico-made materials. The program requires annual reporting on emissions reductions and includes strict antifraud measures, including penalties for false claims.

HB 154 updates the definition of "advanced energy product" for New Mexico's existing tax credit programs. It specifies that qualifying products include solar components (like panels and cells), wind turbine parts, battery materials, fusion machine components, and critical minerals (such as lithium and cobalt). This definition determines eligibility for the Advanced Energy Equipment Income Tax Credit and Corporate Income Tax Credit, which provide tax relief for manufacturers investing in qualifying facilities within New Mexico. The bill directly affects businesses producing these specific energy technologies who seek to claim the tax credits.