Senior Electrical Engineer

Pacific Fusion has appointed Josh Tech as head of its New Mexico operations. The former Tesla employee will oversee the company's planned $1 billion research and manufacturing campus at Mesa del Sol. Tech previously held managerial roles at Tesla from 2014 to 2018 and most recently served as chief operations officer of REE Automotive. At Pacific Fusion, he will focus on transforming the company's nuclear fusion ambitions into operational reality. The California-based company has already launched a build centre at Los Morros Business Park in Los Lunas and begun hiring. Pacific Fusion expects to create 200 long-term jobs and generate over $400 million in economic activity within four years. The company recently achieved a breakthrough in developing more cost-effective fusion reactor technology.

New Mexico just expanded its Advanced Energy Tax Credit with HB 154. * Author KE Andrews * Published April 2, 2026 New Mexico is making a bold play for energy manufacturing investment. On March 6, 2026, Governor Michelle Lujan Grisham signed House Bill 154 into law, expanding the state's Advanced Energy Equipment Tax Credit to cover a wider range of technologies, including fusion energy, additional battery and solar components, inverters, and processed critical minerals like lithium and cobalt. For companies in battery manufacturing, renewable energy component production, and critical mineral processing, this update creates new opportunities to offset significant capital costs. The credit itself is straightforward. It provides a tax credit equal to 20% of qualified expenditures on manufacturing equipment used to produce advanced energy products. The credit applies against both corporate and personal income tax liabilities, and it carries a $25 million cap per project. If the credit exceeds a company's tax liability in a given year, the unused portion can be carried forward for five consecutive years. Credits can also be transferred or sold to other taxpayers in increments of $1 million or more. The program was first created in 2024 and runs through 2032. To claim the credit, companies apply through the New Mexico Energy, Minerals and Natural Resources Department (EMNRD), which reviews applications in partnership with the Economic Development Department. Why HB 154 matters right now. When the Advanced Energy Equipment Tax Credit launched, eligibility was tied directly to the federal Section 45X Advanced Manufacturing Production Credit from the Inflation Reduction Act. That meant the state credit covered the same categories as the federal program: solar energy components, wind energy components, battery components, and rare earth elements. HB 154 changed that. The bill replaced the federal cross reference with a state specific list of qualifying products. This is significant for two reasons: * Federal energy policy has shifted. The One Big Beautiful Bill Act introduced phase outs and new restrictions on several Section 45X categories, including wind energy credits ending after 2027 and critical mineral credits phasing down starting in 2031. By decoupling from the federal definition, New Mexico ensures its credit remains stable and available regardless of what happens in Washington. * HB 154 added entirely new categories that were never part of the federal 45X framework. The most notable addition is fusion energy equipment. Pacific Fusion, a California based company, announced plans in late 2025 to build a $1 billion research and manufacturing campus in Albuquerque. The inclusion of fusion machines and their essential components in the credit was directly tied to attracting and supporting that investment. The bill also broadened coverage for battery components, solar components, wind components, inverters for solar and wind systems, and processed critical minerals including lithium, nickel, and cobalt. The bill passed with strong bipartisan support, clearing the House 59 to 5 and the Senate 36 to 6. What this means for energy and industrial companies. For companies evaluating where to locate or expand manufacturing operations, New Mexico now offers one of the more targeted state level incentives in the country for advanced energy equipment. The 20% credit on qualified equipment costs stacks with other state programs, including Industrial Revenue Bonds for property tax abatement, the Job Training Incentive Program, and gross receipts tax deductions on manufacturing consumables. The combination of a stable state credit and an expanding eligible technology list positions New Mexico competitively against states like Texas, Georgia, and Arizona that rely more heavily on broader economic development tools rather than credits specifically designed for clean energy manufacturing equipment. New Mexico also brings natural advantages: significant lithium and critical mineral deposits, exceptional solar and wind resources, and two Department of Energy national laboratories (Sandia and Los Alamos) that anchor a strong research and technology transfer ecosystem. The annual statewide cap on certified credits is $25 million, so companies considering a project should plan their timeline carefully. Applications are processed in the order received, and once the cap is reached in a given year, remaining applications roll to the following year. Take the next step. The New Mexico Advanced Energy Equipment Tax Credit is just one piece of a larger incentive landscape that energy and industrial companies should evaluate when making capital investment decisions. If your company manufactures batteries, solar or wind components, inverters, or processes critical minerals, this credit could meaningfully reduce your equipment costs and improve project economics. The credits and incentives team at KE Andrews works with energy and industrial companies every day to identify, quantify, and secure tax credits and incentives at the state and local level. If you want to understand how this credit could apply to your operations or explore what New Mexico's full incentive package looks like for your next project, Keatax would welcome the conversation. Reach out to its team to get started.