Establishes "Neighborhood Solar Energy Investment Program."
Revises law concerning Class I and solar renewable energy portfolio standards, solar renewable energy certificates, and net metering.
Directs BPU to establish process to maintain supply and demand for solar renewable energy certificates.
Eliminates solar renewable energy portfolio standard and directs BPU to replace solar renewable energy certificates with fixed-rate incentives.
"New Jersey Clean Energy Act of 2024"; establishes 100 percent clean electricity standard and directs BPU to establish clean electricity certificate program.
Revises value of solar alternative compliance payment.
Repeals certain energy reduction and reporting requirements for electric and natural gas usage.
Requires, by energy year 2050, all electric power sold in NJ by each electric power supplier and basic generation service provider to be from zero-carbon sources.
Requires, by energy year 2050, all electric power sold in NJ by each electric power supplier and basic generation service provider to be from zero-carbon sources.
Requires State to bear costs of interconnection of net-metered, residential, Class I renewable energy systems.