This bill establishes a solar energy grant program within the Board of Public Utilities (BPU) to provide financial assistance to public schools in New Jersey for solar energy projects. The program aims to help eligible entities, including school districts, educational services commissions, jointure commissions, career and technical schools, and community colleges, reduce energy costs and enhance the resilience of their energy systems while contributing to the state's climate action goals. The BPU is tasked with developing guidelines for grant applications and determining eligible project costs, which may cover up to 50% of the total costs associated with approved solar energy projects.

Additionally, the bill mandates the BPU to create educational materials, provide technical assistance related to funding opportunities through the federal Inflation Reduction Act, and develop a financial risk and savings report for the projects. The BPU will also monitor compliance with grant conditions and report annually to the Governor and the Legislature on the program's effectiveness. To support this initiative, the bill appropriates $15 million from the General Fund for the implementation of the grant program, which is to be established within 180 days of the bill's effective date.