The bill amends Section 71-11-1 of the New Mexico Statutes to enhance the grid modernization roadmap and grant program by incorporating renewable energy standards as a key consideration in evaluating grant applications. Specifically, it mandates that projects seeking funding must include a percentage of renewable generation sources that align with the renewable portfolio standards outlined in the Renewable Energy Act. Additionally, the bill emphasizes the importance of real-time information sharing related to grid modernization for utilities, electric cooperatives, and their customers.

Furthermore, the bill introduces new criteria for grant evaluation, including the requirement for projects to assist public utilities in meeting renewable portfolio standards. It also expands the definition of "grid modernization" to include various technologies and systems that improve electric distribution and transmission infrastructure, such as advanced metering infrastructure and energy storage systems. A new definition for "microgrid" is also provided, clarifying its operational capabilities and maximum generation capacity. Overall, the bill aims to promote a more resilient and efficient electric grid in New Mexico while supporting the integration of renewable energy sources.

Statutes affected:
introduced version: 71-11-1