New Jersey Assembly Bill A2915

New Jersey 2024-2025 Regular Session

• Introduced: 1/9/24
• Refer: 1/9/24

Caption

Establishes "Neighborhood Solar Energy Investment Program."

Impact

The implementation of this program is anticipated to have significant implications on state energy policies. It modifies existing electric utility regulations, notably those outlined in P.L.1999, c.23, by mandating that electric suppliers disclose critical environmental characteristics related to energy generation. These disclosures include details about the energy's environmental impact, thus promoting transparency among consumers and supporting informed decision-making regarding energy options.

Summary

Assembly Bill A2915 establishes the 'Neighborhood Solar Energy Investment Program' in New Jersey, allowing customers of electric public utilities to invest directly in solar energy projects. This program is designed to connect solar initiatives to the electric grid, with the objective of enhancing participation in renewable energy generation at the community level. The initiative sets out a framework for customers to financially back solar projects while receiving incentives in the form of credits on their utility bills based on the energy their investments produce.

Contention

While A2915 aims to promote renewable energy and community investment in solar technology, it may encounter friction regarding the specifics of project qualification and the resulting credits on utility bills. Opponents may raise questions about the financial viability for customers, the efficacy of the energy produced versus energy used, and the potential environmental impact of solar facilities. Stakeholders will likely scrutinize how effectively the Board of Public Utilities regulates solar project standards and ensures that they provide the promised benefits to investors.