Under this program, under the aegis of the Renewable Energy Standard, PNM offers to buy Renewable Energy Credits, or “RECs” at $.13/kWh from net-metered photovoltaic (PV) systems, with a peak output of 10 kw or less. This is above and beyond the benefits provided by net-metering; It applies to every kilo-watt hour of solar electricity generated, whether consumed on-site or fed into the grid. This is achieved by adding an extra meter at the output of the PV system to measure all of its power output.
This program is currently limited to 90 kw of new systems per year.