State regulators consider PNM solar proposal
New Mexico regulators are considering a proposal that would mean fewer credits for Public Service Company of New Mexico customers who install solar photovoltaic systems.
Renewable Energy Certificate credits have been slashed by more than half in the last year, and PNM says more changes are necessary due to a drop in the price of solar photovoltaic systems and the costs of the program to other customers.
The proposal before the state Public Regulation Commission stems from negotiations with solar industry representatives and others.
The Santa Fe New Mexican reports critics say a decline in credit payments will hurt the growth of the solar industry.
PNM's program was launched in part to help the utility meet renewable energy portfolio standards set by the state. Now, more than 10 percent of its solar power is from individual solar photovoltaic systems.