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The state is hiring an outside consultant to analyze what its transition to clean energy will cost ratepayers, an assessment repeatedly delayed even as policymakers approve projects saddling customers with billions of dollars in new charges.
The analysis was initially promised to be part of a new Energy Master Plan adopted 16 months ago but was never included. It was paused in the middle of the COVID-19 pandemic when a partial shutdown led to a crippled economy. The master plan provides a blueprint of how New Jersey is going to achieve 100% clean energy by 2050 but fails to include detailed data on what it will do to customers’ bills.
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The Murphy administration’s draft plan to revamp the way solar projects are funded in New Jersey needs to be modified to avoid unnecessarily large rate increases for ratepayers, according to the state Division of Rate Counsel.
Rate Counsel Director Stefanie Brand urged the New Jersey Board of Public Utilities on Friday to focus and place a stronger emphasis on minimizing the rate impact through the still-developing solar successor program.
The proposal is the latest aimed at advancing Gov. Phil Murphy’s clean-energy goals, a policy running into increasing concerns over the costs at a time when up to 1 million customers are in arrears in making payments on their utility bills because of the COVID-19 pandemic.
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The New Jersey Economic Recovery Act of 2020 (ERA), a seven-year, $14 billion package of incentive programs intended to encourage New Jersey job growth, property development and redevelopment, community partnerships, and numerous other economic development initiatives, was signed into law by Governor Phil Murphy on January 7, 2021.
This Client Alert focuses on the Offshore Wind Tax Credit Program, which represents an enhancement under the ERA of New Jersey’s existing and underutilized tax credit incentives for “qualified wind energy” facilities that were adopted in 2010 (P.L. 2010. C. 57). The newly bolstered incentive program is intended to provide critical financial assistance to the development of the offshore wind industry in New Jersey and the construction of large-scale, electric generation wind turbines off the New Jersey coast.
The New Jersey Board of Public Utilities has unanimously voted to extend the zero emission certificates for the Hope Creek and Salem nuclear power plants for an additional three years.
NJ’s Energy Master Plan Will Triple Your Bills! Learn Why!
New Jersey is accelerating its plan to make our state’s energy system 100% electric. To do that, we must completely convert our homes and businesses to electric only systems – structural retrofits that will cost billions to ratepayers.
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Even worse, electric only systems will increase our energy costs by eliminating other sources such as clean natural gas and leave our infrastructure vulnerable to a single mode system.
Affordable Energy for New Jersey (AENJ) is a coalition that brings together voices from all corners of our state – local leaders, business owners, organized labor, rural communities and more – who believe that the state’s proposed Energy Master Plan will have devastating effects on our economy and on the reliability of energy for our families and businesses.