New Mexico considers greater investments in solar, wind

SANTA FE, N.M. (AP) — New Mexico lawmakers would channel a small portion of state investments specifically toward renewable energy projects under newly proposed legislation.

A House panel on energy policy took up discussion Thursday of a bill from Democratic state Rep. Sheryl Williams Stapleton to channel 1 percent of a $5 billion trust fund toward investments in solar and wind energy

The bill seeks to invest about $50 million from the state’s Severance Tax Permanent Fund in the renewable energy sector. No immediate action was taken on the bill.

Democratic lawmakers have introduced a raft of bills to encourage renewable energy development and trim state government’s dependence on income from oil and natural gas.

Also Thursday, a House panel advanced a bill to reduce income taxes for people who invest in home energy-efficiency upgrades.