ASSEMBLY BUDGET COMMITTEE

STATEMENT TO

[First Reprint]

ASSEMBLY, No. 5768

with committee amendments

STATE OF NEW JERSEY

DATED:  JUNE 27, 2025

      The Assembly Budget Committee reports favorably and with committee amendments Assembly Bill No. 5768 (1R). 

      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.  The bill requires the board to accept and approve registrations until the earlier of December 31, 2029 or until such time as the 3,000 megawatts of solar energy projects are completely registered.  The board is required to 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 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)  remove a provision that requires the board to only accept registrations for solar energy projects owned by special purpose entities and nonprofit entities in its additional solicitation of 3,000 megawatts of solar energy projects under the bill; and

      (2)  remove a provision that requires the board to adopt rules and regulations establishing standards for projects owned by electric public utilities under the permanent Community Solar Energy Program.  

FISCAL IMPACT:

      This bill is not certified as requiring a fiscal note.