New Mexico governor signs solar energy, grid update bills

New Mexico

FILE – In this Jan. 15, 2019 file photo New Mexico Gov. Michelle Lujan Grisham gives her State of the State address during the opening of the New Mexico legislative session at the state Capitol in Santa Fe, N.M. New Mexico Democrats pushed forward a progressive agenda as the booming oil industry made headlines in 2019 with record revenues for the state’s coffers. (AP Photo/Craig Fritz,File)

SANTA FE, N.M. (AP) — New Mexico is reinstating a tax credit for households and businesses that adopt solar energy systems and taking new steps to modernize the electric grid and export renewable energy.

Democratic Gov. Michelle Lujan Grisham on Tuesday signed a bills that revive a tax credit of up to $6,000 for the installation of solar panels or thermal solar equipment that heats water.

The state will forgo up to $8 million in taxes a year to offset the solar investments.

She also endorsed a bipartisan grid modernization bill that opens the door for new infrastructure investments by utilities and a grant program for non-utility projects that improve grid resiliency and efficiency.

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