Right this moment, Governor Phil Murphy signed a invoice into regulation paving the best way for a further 3,000 MWDC of neighborhood photo voltaic in New Jersey. S4530 / A5768 follows a string of record-breaking electricity capacity prices within the PJM area, that are forecast to repeatedly drive up electrical energy payments for households and small companies. In a state the place constructing new transmission is sluggish, pricey and spatially restricted, New Jersey is charting a better course by investing in distributed, native options that may go to work now. The transfer additionally positions the state to maximise clear vitality buildout earlier than the ITC begins to part out.
“Right this moment, we’re taking instant and far-reaching steps to decrease vitality prices for each family in New Jersey,” mentioned Governor Murphy in a press assertion. “By accelerating the method for bringing new sources of vitality on-line and quickly constructing new vitality storage services, we are going to meet rising demand whereas additionally making life extra inexpensive for our state’s households. As a part of this course of, we’re going to create good-paying, union jobs and construct a cleaner, extra resilient future for each New Jerseyan.”
The brand new laws cements New Jersey’s management on vitality fairness by persevering with the state’s requirement that at the least 51% of neighborhood photo voltaic subscribers be low- to moderate-income (LMI) households — making certain these most impacted by rising vitality prices see the best profit.
Key provisions of the brand new regulation embody:
- Releasing 3,000 MW of recent neighborhood photo voltaic capability by October 1, 2025, to be registered by December 31, 2029;
- Sustaining an current program requirement that ensures invoice credit score reductions to subscribers; and
- Empowering the Board of Public Utilities (BPU) to set applicable SREC-II ranges to make sure full subscription and market participation.
New Jersey already has roughly 180 MW of neighborhood photo voltaic on-line and over 720 MW within the pipeline, saving clients a minimal of 10 to twenty% and in some instances over 40% on their month-to-month payments, whereas delivering clear vitality by means of regionally developed tasks that stimulate the state’s financial system.
Information merchandise from the Coalition for Neighborhood Photo voltaic Entry
