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Solar Energy Incentive Program:
REC Prices

REC price determination

The price PNM will pay you for renewable energy certificates - called "RECs" - generated by your solar energy system is determined when your application is considered complete by PNM.

PNM will:

  • Notify you within 10 business days if your application is complete.
  • Notify you of the REC price you will be receiving.
  • REC prices are based on the size of the installed system.
  • When the capacity available for a price step is fully subscribed, the REC price decreases to the next step.

REC price tables will be updated weekly. The price step with available capacity is highlighted in gray. Tables last updated on: 05/15/2012

Small Solar -Systems up to 10 kWAC
Total 4.77 MWAC
Step
REC Price
per kWh
MWAC in Step
Subscribed
MWAC in step
MWAC
remaining in step
1
12¢
0.587
0.587
0.000
2
11¢
0.555
 0.555
0.000
3
10¢
0.558
0.558
0.000
4
9¢
0.599
 0.599
0.000
5
8¢
0.577
 0.577
 0.000
6
7¢
0.593
0.593
0.000
7
6¢
0.653
0.653
0.000
*8
5¢
0.623
0.103
0.521
*Step 8 Interim Solar REC Incentive Program: All contracts terminate on Dec. 31, 2020.

 

Systems larger than 10 kWAC up to 100 kWAC
Total 4.50 MWAC
Step
REC Price
per kWh
MWAC in Step
Subscribed
MWAC in step
MWAC
remaining in step
1
14¢
0.429
0.429
0.000
2
13¢
0.437
0.437
0.000
3
12¢
0.292
0.292
0.000
4
11¢
0.428
0.428
0.000
5
10¢
0.450
 0.450
 0.000
6
9¢
0.417
 0.417
 0.000
7
8¢
0.478
0.478
0.000
8
7¢
0.458
 0.458
 0.000
9
6¢
0.450
 0.450
 0.000
*10
5¢
0.661
0.214
0.447
*Step 10 Interim Solar REC Incentive Program: All contracts terminate on Dec. 31, 2020.

 

Systems larger than 100 kWAC up to 1 MWAC
Total 2.682 MWAC
Step
REC Price
per kWh
MWAC in Step
Subscribed
MWAC in step
MWAC
remaining in step
*1
2¢
2.682
1.169
1.514
*Market price RECs for large systems: REC price was determined by a competitive bid process; all contracts terminate on Dec. 31, 2020. Pricing went into effect because all steps in large categories (systems larger than 100 kWAC up to and including 1 MWAC) were filled in the current program.