New Mexico Commercial Property Assessed Clean Energy Program (C-PACE)

The Commercial Property Assessed Clean Energy (C-PACE) Program is a financing structure enabled by state statute and local ordinance that provides eligible property owners with access to long-term fixed-rate financing for a range of energy efficiency, renewable energy, water efficiency, and resiliency improvements. The program allows local governments to secure the financing via a special improvement assessment on the improved property.

New Mexico first enacted C-PACE legislation in 2009, later followed by the Improvement Special Assessment Act enacted in 2023 via House Bill 228, which authorized counties to impose, administer and disburse special assessments to encourage the development of certain property improvements (also called C-PACE financing). This approach to financing has been used by programs like this one on thousands of properties in more than 24 states and the District of Columbia. Eligible properties are any privately-owned commercial, agricultural, industrial, or multi-family real property of five or more dwelling units located within the boundaries of the region (including properties owned by a nonprofit organization).

New Mexico-based Adelante Consulting Inc. has been contracted by EDD to serve as statewide program administrator for the New Mexico C-PACE Program. As such, Adelante will receive, process, and certify program applications to determine eligibility. Adelante is working with New Mexico counties and administrators to familiarize themselves with C-PACE and begin the process of opting in to the statewide program.

Interested county and municipal government officials should email or call (505) 788-7117 for assistance. Potential applicants should contact their county assessor’s office for information on the county’s expected date of opt-in via ordinance passage.”