New Mexico solar projects to receive $156 million | Local News | santafenewmexican.com - Santa Fe New Mexican
New Mexico solar projects to receive $156 million | Local News | santafenewmexican.com
New Mexico is set to receive $156 million for various solar energy projects, largely intended to help low-income residents, as part of the federal Inflation Reduction Act.
The spending comes as part of a federal grant package of more than $7 billion for solar projects targeted to benefit "households in low-income and disadvantaged communities" across the country, the federal Environmental Protection Agency said in a news release Monday.
New Mexico's project — administered through the state Energy, Minerals and Natural Resources Department — is billed on the EPA's website as an effort to "expand access to shared solar beyond the confines of the existing state statutorily defined community solar program." The state plans to use the money on a series of grants and low-interest loans for entities that will help low-income and rural households access solar power.
Related Knowledge Center: ENERGY BASICS: solar
Declining costs and government encouragement have resulted in a rapid increase in solar energy production in the United States over the past 10 years, although solar’s share remains small: 1.6 percent of all electricity generation in 2018. That rapid growth is projected to continue.