The 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 establishes a new "2055 limit" to reflect this updated target. The bill maintains the existing goal of reducing emissions to 1990 levels by 2020 and outlines the responsibilities of the Department of Environmental Protection in monitoring emissions, including the adoption of rules for a greenhouse gas emissions monitoring program and the preparation of progress reports. It also emphasizes the need to address short-lived climate pollutants and evaluate the economic impacts of emission reduction measures.

Additionally, the bill introduces new renewable energy portfolio standards, requiring electric power suppliers to source a specific percentage of their electricity from renewable sources, with a mandate for 35% from Class I renewable sources by January 1, 2025, and 50% by January 1, 2035. It includes provisions for net metering standards, energy efficiency programs, and the establishment of safety and power quality interconnection standards for renewable energy systems. The bill also allows municipal planning boards to waive certain requirements for solar systems under specific criteria and outlines the process for crediting excess electricity generated. Overall, the bill aims to promote renewable energy development, enhance energy efficiency, and ensure equitable access to energy resources while addressing the challenges posed by the current energy landscape in New Jersey.

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