Bill > SB432

This bill, the Low-Income Solar Act, aims to promote the use of renewable energy in low-income housing by establishing a virtual net metering system. The key provisions of the bill include: 1. Defining "low-income housing shared distributed generation systems" as renewable energy systems located on qualifying low-income multifamily properties that allocate the energy produced to individual units or common areas. 2. Requiring utilities to provide virtual net metering bill credits equal to the full retail value of the electricity generated by these systems, allowing users to be billed only for the net electricity they use. 3. Prohibiting utilities from charging users of these systems any fees or charges different from other customers in the same rate class, and allowing them to be placed in residential or small commercial rate classes. 4. Directing the Public Regulation Commission to adopt rules for a standard virtual net metering tariff and contract between utilities and system owners. 5. Exempting solar energy systems on residential properties from property tax valuation. The overall goal of the bill is to make solar energy more accessible and financially beneficial for low-income residents by enabling them to directly utilize the renewable electricity generated on their properties.

Agriculture and Natural Resources, Budget and Finance

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=432&year=23