A bill that would modify the solar carve-out under New Jersey’s RPS by accelerating the compliance schedule is advancing. Under S. 2276, which was recently amended and passed committee, the current EY 2028 solar target of 4.1% would apply in EY 2021.
In addition, a new Solar Energy Study Commission would be tasked with evaluating and providing recommendations on:
- Possible modifications or extensions to the solar targets, through at least 2031.
- Improving interconnection processes, including standardization, transparency, distribution planning).
- The current state of the SREC market, including viable means to facilitate long-term contracts, future ACP schedules, and potential tax incentives.
The Commission must issue an annual report to the legislature for four years after it is formed, after which the Commission will be dissolved.