Bill > A1480

Introduced Session

This bill would revise the State's renewable energy portfolio standards (RPS), the provisions in law that require each electric power supplier and basic generation service provider to sell a certain percentage of electricity from renewable energy sources each year. Specifically, the bill would provide that, beginning in 2030, the RPS for Class I renewable energy (Class I RPS) would apply to the total electricity sold in the State after subtracting the amount of electricity generated by existing nuclear power plants and "zero-carbon" electricity sources that begin operation after 2030. The bill would define a "zero-carbon electric generating facility" as "any electric power generation facility that does not emit carbon dioxide as a by-product of combusting fuel to generate electricity." The bill would also require that, beginning in 2030, at least 50 percent of the renewable energy certificates (RECs) used by an entity to satisfy the Class I RPS be generated in New Jersey. The bill would also extend the Class I RPS to require that, beginning in 2045, 100 percent of the energy sold at retail in the State be from Class I renewable energy sources. The bill would also provide that the current RPS for Class II renewable energy, which requires that 2.5 percent of energy sold at retail be from Class II renewable energy sources, would expire in 2045. Finally, the bill would clarify that the Class I RPS may be satisfied by purchasing and retiring RECs.

Committee Categories

Rosaura Bagolie (D)*,  Robert Karabinchak (D)*,  Garnet Hall (D),  Verlina Reynolds-Jackson (D), 

Introduced, Referred to Assembly Telecommunications and Utilities Committee (on 01/09/2024)

Official Document