Democratic state lawmakers propose a $110 million Local Solar Access Trust Fund to boost solar projects, leveraging oil and gas revenue.
Empowering Local Communities with Solar Grants
In a move to accelerate the transition to clean energy, New Mexico lawmakers are gearing up to introduce the Local Solar Access Trust Fund, earmarking $110 million for grants. These grants will be extended to municipalities, tribes, and school districts for the development of solar projects for public buildings.
Strategic Use of State Funds and Federal Leverage
The proposed fund aims to utilize a portion of the state’s windfall from oil and gas revenue to drive investments in renewable energy. Additionally, it could act as leverage for federal funds through the Inflation Reduction Act, signed by President Joe Biden in November 2022.
Addressing Resilience and Environmental Concerns
Lawmakers highlight the fund’s potential to aid rural communities in enhancing the resilience of their power grids, especially in the face of escalating natural disasters like wildfires. The bill reflects a proactive approach to diversify the state’s economy amid expectations of future declines in oil and gas markets.
Survey Indicates Strong Public Support for Solar Power
A survey conducted by Embold Research reveals that approximately 70% of New Mexico voters, across political affiliations, support expanded solar power production. The fund aligns with public sentiment and aims to facilitate solar projects, benefiting communities while addressing environmental concerns tied to oil and gas.
City Support and Economic Benefits
City of Las Cruces Sustainability Officer, Lisa LaRocque, expresses support for the proposed fund, emphasizing its potential to overcome obstacles for smaller communities. LaRocque highlights the economic advantages of solar, citing Las Cruces’ experience, where 25% of the city’s energy comes from solar, serving as both a cost-saver and a cleaner alternative.
As New Mexico takes strides toward a greener future, this legislative initiative seeks to harness local energy demand, promoting sustainability and resilience.
Source：lcsun-news.com
