Clean Energy Revenue Bond Program
Administered by New Mexico Finance Authority
This program is not available to individual homeowners—it funds energy and renewable improvements only for state government buildings and school districts. If your school district is considering efficiency or solar projects, encourage administrators to request an energy assessment from the New Mexico Energy, Minerals and Natural Resources Department, which can identify cost-saving measures paid back through utility bill savings over up to 10 years.
Work with state agencies and school districts that have requested energy assessments under this program. Eligible improvements span solar (PV and thermal), wind, biomass, CHP, lighting upgrades, insulation, windows, doors, and controls—nearly all renewable and efficiency measures qualify. Contracts can run up to 10 years, with project costs recovered through energy bill savings, so emphasize the long-term payback to your public-sector customers.
The program authorizes up to $20 million in tax-exempt state bonds to finance energy projects in state buildings and K-12 schools. Upon request, your department conducts energy assessments, identifies eligible measures, and awards installation contracts with repayment terms up to 10 years funded entirely by the resulting energy cost reductions. Track savings performance and ensure projects remain within the broad eligible categories (renewables, HVAC, envelope, controls, and custom measures pending approval).
Program details
- Program ID
- 364
- Last updated
- 5/21/2025
Eligibility
- Sectors
- schools state government
- Technologies
- solar - passive solar water heat solar space heat solar photovoltaics wind (all) biomass combined heat & power fuel cells using non-renewable fuels daylighting wind (small) fuel cells using renewable fuels lighting energy mgmt. systems/building controls caulking/weather-stripping building insulation windows doors custom/others pending approval other ee
Program summary
New Mexico's Energy Efficiency and Renewable Energy Bonding Act, which became law in April 2005, authorizes up to $20,000,000 in bonds to finance energy efficiency and renewable energy improvements in state government and school district buildings. At the request of a state agency or school district, the New Mexico Energy, Minerals and Natural Resources Department will conduct an energy assessment of a building to determine specific efficiency measures which will result in energy and cost savings. A state agency or school district may install or enter into contracts for the installation of energy efficiency measures on the building identified in the assessment. An installation contract may be entered into for a term of up to 10 years.
The bonds are exempt from taxation by the state, and any type of renewable energy system and most energy efficiency measures, including energy recovery and combined heat and power (CHP) systems, are eligible for funding. Projects financed with the bonds will be paid back to the bonding authority using the savings on energy bills.
Contact & resources
- Contact email
- zdillenback@nmfa.net
- Additional resources
Please verify current program details with the administering agency before making any financial decisions.
