The Potential Economic Impact of Community Solar in New Mexico

Community Solar has the potential to contribute substantially to New Mexico’s economy. Community solar projects provide an alternative to individual solar installations; consumers can buy-in to larger-scale solar facilities and receive credit on their electrical bills for their share of the power produced. This application of solar technology is ideal for individuals lacking space to install their own panels and for renters, who may not have the ability to convert their homes to renewable energy sources. Additionally, community solar installations can offer opportunities for larger businesses to purchase renewable energy, serving as an anchor customer, often helping to offset the cost to individual consumers. The State will need to consider how regulations will influence the impacts of community solar installations both on the local and statewide levels.