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 buyer's and seller's contact details, system design assumptions, performance guarantees, pricing, tax obligations, and disclosures about warranties and modifications. The bill also specifies that the font size must be no smaller than ten points and the document should not exceed four pages unless a larger font is used.

Additionally, the bill introduces a significant provision stating 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 and marketers accountable for transparency and compliance, thereby protecting consumers from potential misinformation or lack of information regarding their agreements for distributed energy generation systems.

Statutes affected:
introduced version: 57-31-3