Energy Transition Act (SB 489)
BILL SUMMARY:
Gov. Michelle Lujan Grisham, D-N.M., signed into law SB 489, the Energy Transition Act (ETA), which boosts New Mexico’s renewable portfolio standard (RPS) and establishes a target of 100% carbon-free power by midcentury. ETA creates a pathway for a low-carbon energy transition away from coal while providing workforce training and transition assistance to affected communities. ETA mandates an RPS of 50% by 2030 for New Mexico’s investor-owned utilities and rural electric cooperatives, as well as a goal of 80% by 2040. It also mandates 100% carbon-free power for the state’s investor-owned utilities and rural electric cooperatives by 2045 and 2050, respectively. h This legislation boldly commits New Mexico to a rapid power transition, positioning the state as a renewable energy leader and signaling to forward-looking companies that this is a place to invest.
STATE:
New Mexico
FINAL LANGUAGE:
STATUTE:
Chapter 62 Article 15, 16
AUTHOR:
Senator Jacob R. Candelaria (D), Representative Brian Egolf [D]
CO-AUTHORS:
Senator Gerald Ortiz Y Pino (D), Senator Mimi Stewart (D), Representative Patricia Roybal Cabellero (D), Representative Nathan Small (D)
SENATE VOTE:
| Yes: 32 | No: 7 |
| R: 8 | R: 9 |
| D: 24 | D: 2 |
ASSEMBLY VOTE:
| Yes: 43 | No: 19 |
| R: 2 | R: 22 |
| D: 41 | D: 3 |
FISCAL IMPACT:
LISTED SUPPORT:
Public Service Company of New Mexico; City of Albuquerque, Las Cruces and Santa Fe; State Land Office, the Sierra Club, Environment New Mexico, Conservation Voters New Mexico, Tesla
LISTED OPPOSITION:
Retake Our Democracy, TEWA Women United, New Energy Economy, Indigenous Peoples of the Southwest,
SENATE FLOOR ANALYSIS:
ASSEMBLY FLOOR ANALYSIS:
REGULATIONS PROGRAM:
