Bill > S4869

This bill amends New Jersey's solar energy development program, known as the SREC-II (Solar Renewable Energy Certificate-II) program, to increase solar development goals and extend program target dates to 2035. The bill raises the annual solar power generation goal from 3,750 to 6,750 megawatts, covering residential, commercial, industrial, and grid-scale solar projects. It expands the small solar facilities incentive program to include 3,000 megawatts of community solar facilities between 2025 and 2029, and at least 150 megawatts of community solar facilities per year thereafter. The bill also modifies the competitive solicitation process for awarding SREC-II contracts, extending the solicitation rounds until January 1, 2035, and maintaining the goal of promoting at least 300 megawatts of solar electric power generation facilities per year. Additionally, the bill allows the Board of Public Utilities to establish cost containment measures, create bidding categories, and provide incentives for solar projects on contaminated sites or landfills. The changes aim to support New Jersey's renewable energy goals, encourage solar development, and provide flexibility in the state's approach to solar energy expansion.

Agriculture and Natural Resources, Budget and Finance

https://www.njleg.state.nj.us/bill-search/2024/S4869