Bill > A3969

This bill amends the SREC-II program, a New Jersey initiative designed to incentivize solar power development by offering renewable energy certificates, known as SREC-IIs, and payments for solar energy generated. Key changes include significantly increasing the overall solar development goal from 3,750 megawatts to 750 megawatts per year, extending the program's target date to 2035, and allowing the Board of Public Utilities (the "board") to further extend or revise these goals as needed to align with state energy policies. The bill also modifies the small solar facilities incentive program to include specific targets for community solar facilities, aiming for 3,000 megawatts between October 2025 and December 2029, and at least 150 megawatts annually thereafter, while maintaining a 300-megawatt annual goal for net-metered solar facilities and 50 megawatts for remote net metering. Furthermore, the competitive solicitation process for larger solar projects will now extend until 2035, with solicitation rounds occurring at least every 18 months, and the bill introduces flexibility for the board to establish confidential bid thresholds or other cost containment measures to ensure fiscal responsibility and project success.

Budget and Finance, Transportation and Infrastructure

https://www.njleg.state.nj.us/bill-search/2026/A3969