The bill amends Section 57-31-3 of the New Mexico Statutes to enhance consumer protection regarding distributed energy generation systems. It mandates that any agreement related to the financing, sale, or lease of such systems must include a detailed written statement, which must be separate from the agreement and signed by the buyer or lessee. This statement must contain specific information, including the contact details of the buyer and installer, system design assumptions, performance guarantees, pricing details, tax obligations, and disclosures about warranties and modifications. Additionally, it requires sellers or marketers to provide proof of necessary permits and inspections within thirty days of installation.

A significant addition to the law is the provision that failure to provide the required written statement constitutes an unfair or deceptive trade practice under the Unfair Practices Act. This change aims to hold sellers accountable and ensure that consumers are fully informed about their agreements, thereby promoting transparency and protecting consumer rights in the renewable energy market.

Statutes affected:
introduced version: 57-31-3