New Jersey Assembly Bill A1073

New Jersey 2022-2023 Regular Session

• Introduced: 1/11/22
• Refer: 1/11/22

Caption

Establishes "Neighborhood Solar Energy Investment Program."

Impact

The implementation of A1073 is expected to have significant implications on existing state laws regarding energy regulation and renewable energy guidelines. The bill mandates the Board of Public Utilities to facilitate and regulate the neighborhood solar investments, ensuring that solar projects maintain a verified energy output that aligns with the credits issued to customers. Additionally, the bill enforces requirements for utility providers to disclose essential information about energy sourced products, promoting transparency and accountability in energy distribution. These changes contribute to a more sustainable energy landscape in New Jersey.

Summary

Assembly Bill A1073 aims to establish the 'Neighborhood Solar Energy Investment Program' in New Jersey. This program will allow customers of electric public utilities to invest in solar energy projects and receive credits on their utility bills for the amount of electricity produced from their investments. The initiative seeks to enhance public involvement in renewable energy generation while promoting solar energy usage across the state. This approach is anticipated to foster financial support for solar projects and encourage community investment in clean energy technologies.

Contention

While the bill is primarily presented as a positive step towards renewable energy adoption, potential points of contention may arise concerning regulatory control and financial implications for utilities and ratepayers. Concerns surrounding the adequacy of credits issued to customers based on actual energy generated could lead to debates about the efficacy and fairness of the program. Moreover, the provision for public utilities to recover costs through rates may raise alarms among consumer advocates regarding the potential burden on ratepayers, thus sparking discussions on equitable energy distribution practices.