New Jersey Assembly Bill A1478

New Jersey 2024-2025 Regular Session

• Introduced: 1/9/24
• Refer: 1/9/24
• Refer: 6/12/25

Caption

Requires study of ocean energy potential; directs BPU to establish wave and tidal energy generation goals and take other action to establish NJ as nationwide leader in ocean energy.

Impact

By requiring a comprehensive study of the State's ocean energy potential, A1478 seeks to establish New Jersey as a leader in renewable energy. The legislative framework aims to enhance energy reliability and security while stabilizing energy costs. This initiative could foster technological innovation and stimulate job growth within the burgeoning wave and tidal energy sectors, promoting collaboration among public and private sectors to enhance economic development.

Summary

Assembly Bill A1478 aims to explore and enhance the utilization of ocean energy resources in New Jersey, particularly through wave and tidal energy technologies. The bill mandates the Board of Public Utilities (BPU) to initiate a pilot project to assess the viability of these energy forms, leveraging the data obtained to inform future ocean energy policies. It aligns with New Jersey's broader clean energy goals, which include achieving 100% clean energy by 2050, with specific targets for utilizing renewable resources by 2030.

Contention

Potential points of contention may arise around the implementation of the pilot project and the subsequent feasibility study. Stakeholders, including environmentalists and energy advocates, may scrutinize the project's environmental impacts on ecosystems and local industries, particularly fishing. The development of a renewable energy credit program and other financial incentives could also provoke debate about resource allocation and prioritization within the clean energy agenda.