ASSEMBLY BUDGET COMMITTEE

STATEMENT TO

ASSEMBLY, No. 5768

with committee amendments

STATE OF NEW JERSEY

DATED:  JUNE 26, 2025

      The Assembly Budget Committee reports favorably and with committee amendments Assembly Bill No. 5768.

      As amended and reported, this bill directs the Board of Public Utilities (board) to open registration by October 1, 2025 for an additional 3,000 megawatts of community solar projects owned by special purpose entities and nonprofit entities.  The bill requires the board to accept and approve registrations until the earlier of December 31, 2029 or such time as the 3,000 megawatts of solar energy projects owned by special purpose entities and nonprofit entities are completely registered.  The board shall set SREC-II levels and guaranteed bill credit discount levels as appropriate to enable the complete registration of the 3,000 megawatts of solar energy projects owned by special purpose entities and nonprofit entities by December 31, 2029.  The bill also removes the 150-megawatt, annual goal under the community solar program. 

COMMITTEE AMENDMENTS:

      The committee amended the bill to:

      (1)  delay the date by which the board is required to open registration from August 1, 2025 to October 1, 2025; and

      (2)  specify the 3000 megawatts of community solar projects that the board is required to open and complete registration for, and set SREC-II levels and guaranteed bill credit discount levels as appropriate to enable, are required to be from community solar projects owned by special purpose entities and nonprofit entities.

FISCAL IMPACT:

      This bill has not been certified as requiring a fiscal note.