Just over a month ago, the New Jersey State Legislature
passed a trio of clean energy bills focusing on sweeping Renewable Portfolio
Standard (RPS) increases along with solar and storage initiatives, reviving an
Atlantic City offshore wind farm, and a nuclear
bailout.
Known as A3723, the first bill
establishes an energy storage goal of 600MW by 2021 and 2GW by 2030 and
increases the New Jersey RPS to 35% by 2025 and 50% by 2030. Also, the solar
carve-out or solar renewable portfolio standard is increased to 5.1% by 2021
while reducing solar alternative compliance payments (SACP) over future years.
The New Jersey Board of Public Utilities (NJBPU) is further directed to close
the existing Solar Renewable Energy Certificate (SREC) program upon achievement
of the 5.1% goal and modifying or replacing the SREC program to encourage
further efficient development of solar renewable generating sources. And last,
the bill establishes a Community Solar Energy Pilot Program that is set to
become permanent no later than 36 months after the NJBPU adopts regulations for
the pilot program.
