This bill mandates the Board of Public Utilities (BPU) to revise the targets for the community solar program by establishing a goal for the conditional registration of 225 megawatts of solar energy projects prior to June 1, 2024, with the potential for an additional 275 megawatts if qualified applications exceed 225 megawatts. Furthermore, it stipulates that the BPU must open registration for an additional 3,000 megawatts of solar energy projects by August 1, 2025, and continue accepting registrations until either December 31, 2029, or until the 3,000 megawatts are fully registered. The bill also requires the BPU to set appropriate SREC-II levels and guaranteed bill credit discount levels to facilitate this registration.

Additionally, the bill removes the previous requirement for at least an additional 150 megawatts of solar energy projects to be registered annually after the initial goals. The BPU is tasked with ensuring that the revised program includes standards for project participation, customer access, and verification processes, while also maintaining provisions for low- and moderate-income customers. The overall aim is to enhance the community solar program's capacity and accessibility, thereby promoting the use of solar energy in New Jersey.

Statutes affected:
Introduced: 48:3-87.11