Solar PV Program:
Renewable Energy Certificates

Renewable energy certificates – called "RECs" – are produced by customers who own and operate grid-connected photovoltaic systems. In the program, PNM purchases RECs from customers as part of monthly billing.

PNM will purchase RECs at a rate of 13 cents per kilowatt-hour. The REC purchase is in addition to the kilowatt-hour credit that participating customers receive when their meters run backward under PNM's net metering program.

How would my bill be impacted?

Participating customers who are served with electricity and natural gas by PNM will receive two separate bills: one for electricity, one for natural gas.

Participating customers receive updates in their monthly electric service bill showing:

• how many kilowatt-hours were produced by their PV systems
• the REC purchase price
• total REC payment paid by PNM to the customer

The payment to customers will be applied as a credit on the customers' monthly electric bill.

What if REC credits exceed the electricity bill amount?

If the amount paid for the RECs is greater than customers' monthly electricity bill charges:

• the REC payment balance is carried forward as a credit to the following month's bill
• if the REC payment balance exceeds $20, the entire balance will be paid directly to the customer

Learn how to apply
Learn about the interconnection process

Return to solar PV program overview