Today, Governor Phil Murphy signed a bill into law paving the way for an additional 3,000 MWDC of community solar in New Jersey. S4530 / A5768 follows a string of record-breaking electricity capacity prices in the PJM region, which are forecast to continually drive up electricity bills for families and small businesses. In a state where building new transmission is slow, costly and spatially limited, New Jersey is charting a smarter course by investing in distributed, local solutions that can go to work now. The move also positions the state to maximize clean energy buildout before the ITC begins to phase out.
“Today, we are taking immediate and far-reaching steps to lower energy costs for every household in New Jersey,” said Governor Murphy in a press statement. “By accelerating the process for bringing new sources of energy online and rapidly building new energy storage facilities, we will meet growing demand while also making life more affordable for our state’s families. As part of this process, we are going to create good-paying, union jobs and build a cleaner, more resilient future for every New Jerseyan.”
The new legislation cements New Jersey’s leadership on energy equity by continuing the state’s requirement that at least 51% of community solar subscribers be low- to moderate-income (LMI) households — ensuring those most impacted by rising energy costs see the greatest benefit.
Key provisions of the new law include:
- Releasing 3,000 MW of new community solar capacity by October 1, 2025, to be registered by December 31, 2029;
- Maintaining an existing program requirement that guarantees bill credit discounts to subscribers; and
- Empowering the Board of Public Utilities (BPU) to set appropriate SREC-II levels to ensure full subscription and market participation.
New Jersey already has roughly 180 MW of community solar online and over 720 MW in the pipeline, saving customers a minimum of 10 to 20% and in some cases over 40% on their monthly bills, while delivering clean energy through locally developed projects that stimulate the state’s economy.
News item from the Coalition for Community Solar Access