This bill amends New Jersey's existing legislation to extend the deadlines for achieving greenhouse gas emissions and clean energy goals by five years. Specifically, it changes the target year for reducing greenhouse gas emissions to 80% below 2006 levels from 2050 to 2055, and pushes back the requirement for 35% of kilowatt hours sold by electric power suppliers to come from Class I renewable sources from 2030 to 2035. Additionally, the goal of achieving 2,000 megawatts of energy storage is postponed from 2030 to 2035. The Department of Environmental Protection is assigned the responsibility of monitoring emissions, developing regulations, and evaluating policies to meet these targets while considering economic impacts.

The bill also introduces several amendments related to renewable energy standards, including a transition period for implementing an emissions portfolio standard and establishing a framework for solar energy generation requirements and net metering standards. It allows municipal planning boards to waive certain requirements for solar systems under specific conditions and mandates the board to adopt energy efficiency programs for both electric and gas utilities, particularly for low-income communities. The overall aim of the bill is to provide a more feasible timeline for meeting emissions and renewable energy goals, thereby preventing potential increases in energy costs for residents while promoting a balanced approach to energy production and conservation.

Statutes affected:
Introduced: 26:2C-38, 26:2C-39, 26:2C-40, 26:2C-41, 26:2C-42, 26:2C-43, 26:2C-52, 48:3-87, 48:3-87.8