As lawmakers mull renewable energy tax credits, study touts economic benefits

Over the last decade, state tax credits for renewable energy production have helped to create an industry in New Mexico, generating more than 11,000 jobs and $1.6 billion in economic activity, according to a new study. About 60 wind and solar facilities have been built, it says. The study of the tax credits, which were enacted in 2003 and have cost $120 million, was released as the Legislature considers extending the credits. They are now set to expire in 2018. “Taxpayers are getting a huge return on their investments in clean energy — new jobs, new investments, new economic activity — while reaping the additional environmental benefits that come from clean energy,” said Palmer Schoening, a spokesman for Family Businesses for Affordable Energy.