ABQJOURNAL BIZ: Emcore First Firm To Sign Up for PNM's Incentive Program

Thursday, June 25, 2009

Emcore First Firm To Sign Up for PNM's Incentive Program

By Michael Hartranft
Copyright © 2009 Albuquerque Journal
      Emcore Corp. has become the first of what PNM hopes is a parade of customers to take advantage of the power company's new solar energy incentive program for large photovoltaic systems.
       The Albuquerque-based maker of compound semiconductors and systems for the fiber optic and solar power markets said it will be able to produce 114 kilowatts of solar power on-site to feed to the company's buildings and manufacturing operations through through a PNM-approved meter.
       Its 20-year agreement with PNM, to be officially unveiled today at Emcore, makes it the first participant in PNM's large distributed generation solar power program.
       The PNM program, approved by state regulators in December, is for solar photovoltaic systems greater than 10 kilowatts up to 1 megawatt. It and a similar incentive program for systems 10 kilowatts or less are intended to expand PNM's portfolio of renewable energy source and help it meet its environmental goals.
       “This is a significant milestone in advancing solar power applications for both Emcore and PNM,” Emcore CEO Christopher Larocca said in a statement. “The (distributed generation) program allows power to be generated close to the point of use and distributed without a comprehensive transmission infrastructure.”
       Emcore has installed second- and third-generation Emcore concentrator photovoltaics systems next to its headquarters. The company said it has put in 1-megawatt-plus systems at seven sites throughout the world, but this is the first “distributed generation” application.
       Participants in the large photovoltaic program are credited 15 cents per kilowatt hour for energy they generate and consume on site in a given billing period. Those who produce more electricity than they use during that time receive additional credit for the excess, paid at the rate it would have cost PNM to produce. If they use more than what they produce, they are charged at the usual business rate. Whenever the balance in the customer's account reaches $200 or more, PNM sends a check.
       PNM spokeswoman Cathleen Garber said the photovoltaic programs help the company meet its state-mandated Renewable Portfolio Standards. PNM is required to generate 6 percent of its retail energy from renewable sources until 2011, when the percent requirement increases to 10 percent. It moves to 15 percent in 2015 and 20 percent in 2020. The standards also requires that wind and solar resources each account for at least 20 percent of the requirement, with non-wind and non-solar resources making up no less than 10 percent.

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