
Bill passed in New Mexico set to boost substantial geothermal power in the state
The New Mexico Senate unanimously approved three new bills prioritizing environmental initiatives, notably including House Bill 91, or the Geothermal Resources Project Fund. This legislation allocates $2.5 million towards future geothermal energy projects, tapping into the Earth’s subsurface heat for electricity generation, hot water provision, and heating and cooling solutions. Additionally, the bill establishes a geothermal projects fund and revolving loan fund to facilitate grants and loans for project financing and cost-benefit studies.