New Mexico SREC Market

New Mexico's renewable portfolio standard calls for 20% of the generation requirement to come from solar by 2020. Additionally, 3% is mandated to come from distributed generation. Although there is a specific solar requirement, the state does not currently have a viable SREC market. New Mexico has not put in place a solar alternative compliance payment (SACP) to help drive a market price for SRECs. IOUs are required to purchase RECs to meet RPS requirements, but have implemented direct buy-back programs to achieve the requirements.

Pricing:
SREC Auction - Auction closing prices history

States Eligible for NM Market: New Mexico
Tracking Platform: WREGIS
Energy Year / Compliance Period: January 1 - December 31
SREC Useful Life: SRECs may be carried forward for up to 4 years from the date of creation.
Solar Requirement: By 2010, 20% of the RPS requirement from solar and 3% of the RPS requirement from distributed generation.
SACP: None currently in place.
Meter Readings: Utilities with REC buy-back programs install production meters to measure a PV system's production on a monthly basis.

Useful Links:
New to Solar? - Getting Started - The nuts and bolts of getting started generating and selling SRECs
New Mexico SREC Blog - Starting point for useful information regarding the state SREC market
DSIRE: New Mexico RPS - Details on the Renewable Portfolio Standard in New Mexico