NEW MEXICO HAS A CLEAN ENERGY ALTERNATIVE WITH ENORMOUS ECONOMIC POTENTIAL
New research confirms that a 100% renewable energy economy is possible now with the right investment fund and businesses model exponential economic benefits are possible as we lower our annual energy costs, reduce the social costs of climate disruption, save lives, and gains 23,500 net increase in jobs in New Mexico.
“We create a net increase of 23,500 more long-term, full-time jobs in the state”– New Energy Economy 2023
Stanford Professor Mark Jacobson and a team of researchers published a landmark study, updated in 2021 , proving that the world’ s energy needs can be met using clean, renewable energy sources. Their analysis, calculated on a state by state basis, confirms that a transition tosolar, wind and batteries in New Mexico:
- will result in 68 . 2 % lower annual energy costs for New Mexicans (from $ 17.2 down to $ 5.5 billion/yr)
- reduce annual social costs ( energy plus health plus climate costs) by about 90% ( from $ 55 down to $ 5.5 billion per year)
- Save 280 New Mexican lives annually by reducing air pollution
- eliminate about 61 M tonnes- CO 2 – equivalent per year in climate- affecting emissions
- create a net increase of 23,500 more long- term, full- time jobs in the state
RETHINK X CONFIRMS THOSE FINDINGS, predicting exponential BENEFITS from a 100% SOLAR, WIND &BATTERY GRID
R e t h i n k X I s a n i n d e p e n d e n t t h i n k t a n k t h a t a n a l y z e s a n d f o r e c a s t s t h e s p e e d a n d s c a l e o f t e c h n o l o g y – d r i v e n d i s r u p t i o n a n d i t s im p l i c a t i o n s a c r o s s s o c i e t y .
Key findings of the Rethink X 2020 energy report:
- It is both physically possible and economically affordable to meet 100 % of electricity demand with a combination of solar, wind, and batteries by 2030 .
- Just as the Internet disrupted many incumbent industries and created trillions of dollars of newvalue by reducing the marginal cost of information to near zero, the solar, wind and batterydisruption will have a s imilar impact by reducing the marginal cost of energy to near- zerofor a substantial portion of the year.
- The optimal lowest cost solar, wind and battery systems will produce surplus energy output (generating capacity that exceeds current electricity production). Clean energy super- abundance of near- zero marginal cost energy will create new possibilities for transportation, housing, and novel products, services & industries.
- Combined with electricvehicles, a 100 % solar, wind and battery system could eliminate all fossil fuel use andemissions in both the electricity and road transportation sector s imultaneously.
New Mexico has the 2nd highest solar capacity and 11th highest wind capacity of any state in the nation. A 2022 report by the H Bailey Group found that these benefits would be maximized through a public ownership model – whereby cost-savings and revenue generation would benefit New Mexicans rather than private utility shareholders. The report found that development of 16,700 to 23,500 MW of renewable energy above current production plans, to include transmission, could generate energy export revenue for the state in excess of $1 Billion annually.
D E V E L O P M E N T O F 1 6 , 7 0 0 T O 2 3 , 5 0 0 M W O F R E N E W A B L E E N E R G Y A B O V E C U R R E N T P R O D U C T I O N P L A N S , T O I N C L U D E
T R A N S M I S S I O N , C O U L D G E N E R A T E E N E R G Y E X P O R T R E V E N U E F O R T H E S T A T E I N E X C E S S O F $ 1 B I L L I O N A N N U A L L Y
An economic engine to power New Mexico’s future