Bill > S237

This bill, the "New Jersey Clean Energy Act of 2024," establishes a 100 percent clean electricity standard, mandating that by 2035, all retail electricity sales in New Jersey must be matched with "Clean Electricity Attribute Certificates" (CEACs), which represent the zero-carbon benefits of electricity generated from qualifying clean sources like nuclear, wind, and solar facilities. The Board of Public Utilities (BPU) is directed to create a program to issue and manage these CEACs, ensuring that electricity providers meet increasing percentages of clean energy procurement over time, with specific targets for 2027 and 2030. The bill also allows for the use of other existing renewable energy certificates, such as Class I RECs, ORECs, SRECs, SREC-IIs, TRECs, and ZECs, to count towards compliance, but with limitations to ensure the primary goal of CEACs is met. Furthermore, it sets a broader state goal of meeting 100 percent of electric reliability needs with zero-emission facilities by 2045 and includes provisions for prevailing wage and apprentice labor hour requirements for clean energy projects, as well as penalties for facilities with substantive permit violations that prevent them from receiving certain incentives.

Agriculture and Natural Resources, Budget and Finance

https://www.njleg.state.nj.us/bill-search/2024/S237