This bill mandates the Board of Public Utilities (BPU) to revise the targets for the Community Solar Energy Pilot Program by establishing a goal for the conditional registration of 225 megawatts of solar energy projects by June 1, 2024, with the possibility of an additional 275 megawatts if qualified applications exceed the initial goal. 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 includes provisions for setting SREC-II levels and guaranteed bill credit discount levels to facilitate this registration.

Additionally, the bill removes the previous requirement for an annual goal of at least 150 megawatts per year after the initial registration period. The BPU is tasked with ensuring that the revised program maintains standards for project capacity, geographic limitations, customer participation, and access for low- and moderate-income customers, among other regulatory measures. The overall aim is to enhance participation in community solar projects and expand renewable energy access across New Jersey.

Statutes affected:
Introduced: 48:3-87.11