New Mexico’s utilities hit the state’s 2030 renewable electricity target years early, but the harder parts of the shift away from fossil fuels are still ahead, according to a Canary Media analysis.
The 2019 Energy Transition Act requires investor-owned utilities to reach 50% renewable power by 2030, 80% by 2040 and 100% carbon-free electricity by 2045. Federal energy data show the state crossed the 50% mark in 2024, and PNM has said 80% of its power was carbon-free. State Rep. Nathan Small, who sponsored the law, told Canary Media the early progress shows the state can move faster than planned.
Canary Media credits more than strong wind and sun. The state created a Renewable Energy Transmission Authority to help plan power lines and uses a sovereign wealth fund, fed partly by oil and gas revenue, to invest in emerging technologies. Dan West of the Clean Air Task Force told the outlet that New Mexico also built the institutions and investment climate needed to deliver on its goals.
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Demand is expected to grow about 40% by 2032, according to Canary Media. PNM has asked regulators to approve a package of wind, solar and battery storage that also includes La Luz II, a natural gas peaker plant opposed by environmental groups. Further proceedings on the gas plant were set for January 2027.
The coal transition has also been uneven. Aid for workers laid off at the San Juan Generating Station was slowed by court challenges and narrow eligibility rules, delays Small acknowledged to Canary Media were unacceptable.
What's Next
State regulators have set further proceedings on PNM's La Luz II gas plant for January 2027.
Why It Matters
Power demand in New Mexico is expected to grow about 40% by 2032, and regulators' ruling on PNM's package will help decide how that demand is met.
About This Story
Daily Reports is Brant.One’s news roundup. Each day we gather the New Mexico stories worth knowing from newsrooms across the state, sum them up and point you to the source. This one comes from Canary Media’s reporting, and their original story has the interviews and full details.
Editor’s note: Updated Oct. 31, 2026. This story is now part of Daily Reports, our New Mexico news roundup, and was revised to credit Canary Media’s original reporting. Learn how Daily Reports works in our editorial standards.
