ALBUQUERQUE, N.M. and ROCKVILLE, Md., Jan. 28, 2025 /PRNewswire/ -- Seizing on the newly open community solar market in New Mexico, Prosperity Works and Chaberton Energy have started development on one project, with four additional projects awaiting approval.
The two organizations have aligned on community solar development based on shared values of supporting communities in need. Prosperity Works is a New Mexico nonprofit that sees community solar as one of the levers that can put money back in the pockets of low-income families.
"We spent a lot of time vetting solar developers to find a company that shares our values, and Chaberton showed up as a true partner in this work," said Dr. Ann Lyn Hall, CEO of Prosperity Works. "We strongly believe that community solar is an important way we can fulfill our mission of achieving economic prosperity for all New Mexicans."
Utility costs are often burdensome to low-income families because they can account for 30% of their monthly income. Families then have to choose to pay their electric bill before getting food, medical care, or other basic needs. Community solar can help families lower their energy burden so they can use their money for other necessities.
The project now under development is called Lake Jody in Deming, N.M. It will have an electricity generating capacity of a 2.8 megawatt direct current (MWdc), which is enough electricity to power the equivalent of 650 New Mexico households. Lake Jody is in the PNM service territory, and anyone in that territory will be able to subscribe to the project. It will serve 50% low-income subscribers at a 30% discount.
"The Lake Jody project, and others in the Prosperity Works portfolio, show how community solar projects can provide significant benefits to low-income communities," said Chuck Watkins, Vice President of Development, Chaberton Energy. "We are proud to be doing this work, and excited to support affordable, clean energy for New Mexicans."
The four projects on the waiting list are in Alamogordo, Belen, Lordsburg and Silver City in central and southwestern New Mexico, all are also in the PNM service territory. They have a combined electric generating capacity of 28 MWdc.
These projects are part of the New Mexico Community Solar Program, initiated under the Community Solar Act and signed into law in April 2021 by Governor Michelle Lujan Grisham. Overall, the state plans to add 500 MW of community solar.
About Prosperity Works
Prosperity Works is a nonprofit that supports limited-income New Mexicans build and protect assets they need to be successful. Whether that's investing in education, providing low-interest lending options, assistance for buying a home, providing fair lending information, or even lowering energy bills. Prosperity Works collaborates with other nonprofits, businesses, government agencies, and financial institutions to make these life-changing strategies a reality. For more information, visit prosperityworks.net or follow @ProsperityWork on Twitter.
Prosperity Works Media Contact
Dr. Ann Lyn Hall
505-553-2617
[email protected]
About Chaberton Energy
Headquartered in Maryland, Chaberton Energy is a public benefit corporation focused on developing sustainable infrastructure and renewable energy projects for communities and businesses. Chaberton was named to the 2024 Inc. 5000 list of America's fastest-growing private companies and ranks as the No. 1 fastest-growing community solar company, the No. 2 fastest-growing Maryland company, and the No. 34 fastest-growing company overall.
Chaberton Media Contact
Lia Morrison
412.573.9095
[email protected]
SOURCE Chaberton Energy
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