[SEIA, 23 May 2018]

New Jersey Governor, Phil Murphy, has signed “a historic bill to significantly advance New Jersey’s clean energy economy.” This bill aims to both sustain and expand New Jersey’s renewable energy industry while allowing more residents, communities, and businesses to realize the cost benefits of solar. The bill raises the RPS target to 50% by 2030 and creates a community solar program – which, if implemented well- will allow all residents access to solar energy. It also, among other things, reduces the total cost of the current solar RPS by reducing the Solar Alternative Compliance Payment, ends the “current solar renewable energy credit trading program in an orderly way,” and sets the foundation for new solar programs. Sean Gallagher, SEIA’s Vice President of State Affairs,” applauded the Governor for the passage of this bill and added that with this new legislation, “many more New Jersey residents, businesses and communities will have access to solar energy. This is a huge win for customers, will support the thousands of solar jobs in the Garden State, and puts the state on track to meeting its ambitious clean energy goals.”