This bill amends the existing Community Solar Energy Pilot Program by directing the Board of Public Utilities (BPU) to establish a goal for the conditional registration of 225 megawatts of solar energy projects by 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 an annual goal of at least 150 megawatts per year after the initial registration period. The BPU is tasked with ensuring that the new regulations maintain access for low and moderate-income customers, establish standards for project participation, and minimize impacts on the electric distribution system. Overall, the bill aims to expand community solar energy initiatives in New Jersey while ensuring consumer protections and environmental considerations are met.

Statutes affected:
Introduced: 48:3-87.11