Assets and Development Strategies

New Mexico’s Green Economy Assets

New Mexico is very well positioned to benefit from the emerging Green Economy. Our assets include:

  • World-class developable solar, wind and geothermal resources and abundant open land
  • World-class renewable energy, biofuels, and “green grid” research institutions and a strong venture capital community
  • A strong and growing clean tech manufacturing cluster supported by low costs of doing business and attractive incentives
  • Nationally-recognized green workforce training programs
  • Strong state and federal level clean energy champions
  • A deeply-rooted and long-standing respect for the natural environment

Primary Economic Development Pathways

There are primarily four interconnected pathways of economic development in this sector for New Mexico. Investing in these pathways will result in both rural and urban jobs across the state.

  1. Growing the Green Manufacturing/Production Cluster: Grow the emerging cluster of existing clean tech manufacturers and biofuels producers by attracting similar companies.
  2. Renewable Utility-Scale Generation: Push the development of utility scale solar, geothermal and wind power in NM, especially to export to other states.
  3. Energy Efficiency and Distributed Generation: Promote the expansion of existing small-scale solar and wind installations and energy efficiency retrofits of our building stock.
  4. Clean Technology Push: Leverage the significant R&D resources of the state to develop a vibrant community of active entrepreneurs and start-up companies.

Promising Economic Development Strategies for New Mexico

The Green Jobs Cabinet will be identifying promising green economic development strategies for New Mexico. Some strategies that will be evaluated include:

  • Become a major renewable energy power exporter and hub of renewable energy trading. By leveraging our diverse renewable energy resources including solar, wind and geothermal, and our strategic position at the intersection of three major energy grids, New Mexico could play a very important role in our nation’s energy security.
  • Become a center of solar industry and innovation. With our R&D labs and universities, growing cluster of solar manufacturers, and ability to profitably deploy solar technologies around the state, New Mexico could become a national center of solar excellence.
  • Be the first state to have a comprehensive “Green Grid” and become a national center of related R&D and innovation.
  • Widespread adoption of energy efficiency and distributed generation around the state. Energy efficiency and distributed generation have the potential to create jobs and benefit citizens in every town and county of New Mexico.
  • Become the world leader in algae-based biofuels. Our existing R&D, intense sun, open land, and abundant brackish water supplies make New Mexico the ideal hub for this non-food biofuels industry.
  • Develop an active manure-based bio-gas industry. This could become a significant source of additional income for our dairy farmers.