Bill > S249

This bill requires the Board of Public Utilities (BPU) to establish a beneficial building electrification and decarbonization program, which aims to reduce greenhouse gas emissions by transitioning buildings from fossil fuel-based heating and appliances to efficient electric alternatives. The bill directs the BPU to set greenhouse gas emission reduction targets for this program, develop program design elements, and establish a cost recovery and performance incentive mechanism. Each electric public utility in the state must then submit a multi-year plan to the BPU to achieve these targets, which must be cost-effective from a societal perspective. The bill outlines various means by which utilities can meet the targets, such as converting fossil fuel-based systems to electric heat pumps and replacing fossil fuel-based appliances with high-efficiency electric alternatives.

Budget and Finance, Business and Industry

https://www.njleg.state.nj.us/bill-search/2024/S249