New Mexico Mortgage Finance Authority allocates $3.5 million from New Mexico Housing Trust Fund to weatherization program for solar projects
LAS CRUCES, N.M. – During its Nov. 15 meeting, the New Mexico Mortgage Finance Authority (MFA) Board of Directors approved $3.5 million in funding from the New Mexico Housing Trust Fund to support solar systems for homes that are receiving NM Energy$mart Weatherization Program services.
The U.S. Department of Energy (DOE) is the primary funder for the Energy$mart Program, and the DOE partially funds the installation of solar systems as an eligible weatherization measure and has match requirements for some of its grants.
MFA staff requested $3.5 million in funding from the 2024 New Mexico Housing Trust Fund allocation to install solar-powered systems in households that are receiving weatherization services throughout the state. These funds will keep the electric bills for low-income households affordable after electrification, while creating a pathway for future funding opportunities.
“This is our first venture into solar, and we hope to impact many New Mexico households with this funding,” said Isidoro Hernandez, MFA Executive Director/CEO. “Along with funding from the DOE, we are confident this program will positively impact peoples’ lives with additional resources from the New Mexico Housing Trust Fund.”
The NM Energy$mart Weatherization Program’s primary goal is to assist low-income households in reducing their energy consumption, lowering costs and improving their health and safety by implementing various energy-efficient measures in their homes. MFA administers the NM Energy$mart Weatherization Program through community-based nonprofit organizations offering statewide services.
The NM Energy$mart Weatherization Program is funded by the DOE, Low-Income Home Energy Assistance Program, New Mexico Gas Company, PNM, New Mexico Housing Trust Fund and El Paso Electric. The term “Weatherization” is linked to DOE’s Weatherization Assistance Program, which was established by Congress in 1976, while “Energy$mart” is specific to New Mexico’s program. MFA has administered the Energy$mart weatherization program in the state since 1997.
For more information about the NM Energy$mart Weatherization Program and to determine eligibility, please visit https://housingnm.org/home-repair-and-energy-efficiency/energymart-weatherization-assistance.