House Memorial 37 requests the Energy, Minerals and Natural Resources Department of New Mexico to conduct a study on the costs associated with decommissioning solar and wind energy generation facilities. The bill highlights the rapid growth of renewable energy in the state, which currently accounts for nearly 45% of electricity generation, and emphasizes the lack of statutory requirements for the decommissioning of these facilities. It points out that without financial assurance requirements, residents may face significant costs for decommissioning, estimated between $30 million and $100 million per 1,000 megawatts of capacity. A report indicated that New Mexico is ill-equipped to handle potential decommissioning costs, which could reach $974 million.

The study aims to evaluate the timing and costs of decommissioning, assess existing financial assurance options, and consider best practices from other states. It will also propose recommendations for policies or legislation to mitigate environmental and financial risks associated with the decommissioning process. The findings and recommendations are to be presented to the appropriate interim legislative committee by November 1, 2026. Additionally, copies of the memorial will be sent to relevant state officials, including the secretary of energy, minerals and natural resources, and the chair of the public regulation commission.