Public Service Co. of New Mexico proposes affordable solar-power systems

Sept. 14, 2005
Utility company offers to pay customers for solar energy use

Utility company offers to pay customers for solar energy use

The Public Service Co. of New Mexico (PNM) has recently submitted a proposal to the state Public Regulation Commission for approval for buying solar energy from its customers at 11 cents for every kilowatt-hour of energy—approximately $3,100 over 12 years. Under the proposal, customers would purchase solar-power systems and the meter from PNM, preventing the company from having to build a facility to generate that much electricity at a savings of $4.7 million.

PNM hopes to launch the plan by March 1 in order to increase the amount of solar energy tied to its grid to 1.2MW in the next eight years.

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