October 24, 2014

NJ Bill Hikes Offshore Targets

New Jersey lawmakers are considering aggressive renewable energy legislation that would require 3GW of offshore wind generation by 2030 and 4.5GW by 2050.

The proposal is part of bill that requires New Jersey to meet a renewable portfolio standard that starts at 20% by 2020 and increases every five years to reach 80% by 2050.

Senators Bob Smith and Christopher Bateman introduced Bill S2444 last week, which includes an offshore renewable energy credit program.

The bill is under review by the Senate Environment and Energy Committee.

Critics question the costs the measure would impose on New Jersey ratepayers and whether it is technologically feasible.

Governor Chris Christie signed an offshore wind bill in 2010 targeting 1100MW by 2020 but few expect that will happen.

The Board of Public Utilities has yet to enact an OREC regime.

With Christie expected to make a run for the US presidency in 2016, critics say his support has waned for state-subsidized offshore wind, a policy not supported by the Republican party’s conservative wing.

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