Bill > A6155

This bill requires the New Jersey Board of Public Utilities (BPU) to establish two interconnected programs to support energy storage development in the state. The first program aims to support electric utilities in developing 500 megawatts of energy storage capacity by 2030, with goals of improving grid stability and reducing interconnection timeframes and system costs. The second program will provide incentive awards to develop at least 1,500 megawatts of customer-sited and front-of-the-meter energy storage systems by 2030, with specific provisions to support low-income communities and critical facilities. The bill mandates that the BPU create detailed implementation guidelines, including setting incentive levels, establishing application processes, and developing performance standards. Incentive awards will be structured as fixed annual payments over 15 years, capped at 35% of a project's total cost, with bonus opportunities for projects serving low-income communities or providing resilient power to critical facilities. The legislation also requires electric utilities to file tariffs for energy storage systems and aims to ultimately achieve a total of 3,000 megawatts of new energy storage capacity by 2030, with a focus on promoting equitable access and grid benefits across different types of energy storage technologies and deployment scenarios.

Government Affairs, Transportation and Infrastructure

https://www.njleg.state.nj.us/bill-search/2024/A6155