Bill > S249

This bill mandates that the Board of Public Utilities (BPU) establish a program focused on "beneficial building electrification and decarbonization," which involves switching from non-electric to efficient electric equipment for building uses like water heating, space heating, industrial processes, or transportation, as long as it reduces costs from a societal viewpoint, cuts greenhouse gas emissions, or encourages more electricity use during off-peak hours. Electric public utilities will then be required to create and implement their own plans to meet greenhouse gas emission reduction targets set by the BPU, ensuring these plans are "cost effective" (meaning their benefits outweigh their costs, using a specific test that includes environmental benefits) and can achieve these reductions through methods like converting fossil fuel systems to electric heat pumps, replacing fossil fuel appliances with efficient electric ones, or implementing programs to educate contractors about these new technologies. The bill also directs the BPU to determine who will be responsible for implementing these programs for new construction and to offer direct incentives for installing electric heat pumps.

Budget and Finance, Business and Industry

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