| Implementing Sector: | Utility |
| Category: | Financial Incentive |
| State: | New Mexico |
| Incentive Type: | Performance-Based Incentive |
| Web Site: | http://www.epelectric.com/nm/residential/renewable-energy-interconnection-1 |
| Administrator: | El Paso Electric Company |
| Start Date: | 03/01/2009 |
| Eligible Renewable/Other Technologies: | Solar Photovoltaics, Wind (All), Wind (Small) |
Since January 2010, El Paso Electric has purchased renewable energy certificates (RECs) from its New Mexico customers who install small photovoltaic (PV) systems and wind systems. The RECs that El Paso Electric purchases will help the utility comply with New Mexico's renewable portfolio standard (RPS) in exchange for a financial incentive to homeowners and businesses who install PV and wind energy systems.
Only systems connected to the utility's grid and net-metered are eligible. RECs will be measured by a separate REC meter and purchased by El Paso Electric on a monthly basis. For contracts signed on or after January 1, 2014, the utility will purchase the REC's from a PV or wind system at a rate of $0.02 per kilowatt-hour (kWh) for small systems (<10 kilowatts) and medium systems (10 kW - 100 kW), and at "prevailing market prices" (a rate not exceeding $0.018 per kWh) for large systems.
Payments will not be made for any RECs produced by a medium system that are in excess of the kWh consumed by the site during a month. REC purchase payments will appear as a credit on the customer's monthly bill. Any credit balance up to $30.00 will be applied to the following month's bill. Once the rolling credit exceeds $30.00 a direct payment will be made to the customer.
See application for further details.
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