For Immediate Release
New Energy Economy Rolls Out Plan to Achieve 100% Renewable Electricity in New Mexico by 2035
SANTA FE, NM – Today, New Energy Economy, a New Mexico non-profit characterized by PNM (Public Service Company of New Mexico) as the monopoly’s “chief adversary,” is releasing a 25-page technical report illustrating the pathway to 100% renewable electricity in New Mexico by 2035. Although many other nations and states have left New Mexico behind in transitioning to renewable energy, the plan would set our state on track to lead the nation with a renewable energy economy that is more dynamic, equitable, sustainable, and resilient than what has existed in New Mexico for decades.
“New Mexicans face a choice; should we accept a status quo defined by stagnant wages, high unemployment, and rising pollution? Or should we opt to invest in innovation, competitiveness, sustainability, and self-reliance?” asks New Energy Economy Executive Director Mariel Nanasi.
Eighty-four percent of New Mexicans, across the political spectrum, support a transition to renewable energy.
Electricity in New Mexico is already undergoing a significant shift. Though coal-fired and nuclear power plants currently make up nearly 3/4s of PNM’s energy mix, and PNM continues to resist transitioning to renewable energy because their shareholders make a significant return off of existing capital assets like the San Juan Generating Station and Four Corners Power Plant, the tides are turning. New Energy Economy with a grassroots movement behind it is equipping the state’s Public Regulation Commission and the New Mexico Supreme Court with the evidence they need to rule against PNM’s “imprudent”, unnecessarily expensive, and wasteful coal and nuclear investments and to rule in the interests of New Mexico’s ratepayers instead. The law requires that the utility choose the lowest-cost energy solution with a preference for environmentally friendly energy supplies. With solar and wind prices now well below the prices of conventional energy supplies, a transition is imminent.
Rather than energy derived from coal, nuclear and natural gas to serve its 500,000 customers, NEE’s plan would transition the state to 700 megawatts of solar power and 1750 megawatts of wind power by 2035, leveraging the state’s 2nd in the nation ranking for solar potential, and 12th in the nation for wind potential.
New Energy Economy is fighting for a “just transition” that creates thousands of new jobs and that drastically reduces air pollution, carbon emissions, and water usage in a high-employment and high-innovation clean energy economy. A “just transition” also means repairing the environmental injustices faced by countless New Mexicans as a result of extractive industry. In January, New Energy Economy will begin a 3 year process, with a $50,000 annual investment from the Con Alma Foundation that will support a community-led Health Impact Assessment and community-driven planning process by Dine and other frontline community members in the Four Corners region to define community needs and the community’s vision for a just transition and sustainable economic development for the region.
Copies of both the full-report and a four-page executive summary can be accessed at newenergyeconomy.org and is attached to this press release. Copies of the report have been sent to every NM legislator and key City Councilors and County Commissioners statewide.
About New Energy Economy
New Energy Economy is a registered nonprofit organization established in 2004 to create economic opportunity in New Mexico with less carbon pollution and more clean energy. New Energy Economy works in partnership with diverse allies to encourage job growth, investment and innovation in a more efficient, sustainable and equitable energy sector. New Energy Economy grounds its work in the research and findings of the world’s leading scientific and technological authorities. Learn more at www.newenergyeconomy.org