Federal stimulus could boost New Mexico renewable energy, study says

Renewable energy sectors could bring a multi-billion-dollar boost to New Mexico’s economy along with thousands of jobs, per a recent study, if supported by federal stimulus money.

Advanced Energy Economy, a national renewable energy trade association, estimated in a report released Friday that federal stimulus investments of $20 billion in renewables could add $117 billion to New Mexico’s gross domestic production (GDP).

The investments would also save consumers, municipalities and businesses about $6 billion on energy costs each year and create 796,000 job years, or single years of employment.

More:The wind cries money: Renewable energy struggles to compete with oil and gas in Carlsbad

The report estimated the $20 billion investment as New Mexico’s potential share of a $2 trillion federal stimulus package, contending it could generate $7.5 billion in tax revenue for New Mexico each year from renewable energy projects. 

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