The bill amends New Jersey's existing legislation to mandate that the state cover the reasonable costs associated with the interconnection of new net-metered, residential Class I renewable energy systems. It modifies Section 12 of P.L.1999, c.23 (C.48:3-60) to include provisions for funding these interconnections through the societal benefits charge collected from electric and gas public utility customers. The funding is set to be no less than 50 percent of the total amount collected for demand-side management programs for an initial four-year period, with a gradual increase until a cap of $140 million is reached. Additionally, the Board of Public Utilities (BPU) is tasked with determining appropriate funding levels and administering the Universal Service Fund to support social programs and renewable energy initiatives.

The bill also introduces new net metering standards, requiring electric power suppliers to offer non-discriminatory rates to customers generating electricity from Class I renewable energy sources. It mandates the BPU to adopt regulations for net metering aggregation standards and to implement energy efficiency programs, particularly in low-income communities. Furthermore, the BPU is required to establish a registration program for solar electric power generation facilities and to consider financial incentives for certified solar projects. The bill emphasizes the need for transparency in project development and construction, and it directs the BPU to create a grant program to allocate funds for interconnection costs, ensuring that the implementation of these provisions takes effect immediately upon enactment.

Statutes affected:
Introduced: 48:3-60, 48:3-87