SENATE ENVIRONMENT AND ENERGY COMMITTEE

STATEMENT TO

SENATE, No. 4530

STATE OF NEW JERSEY

DATED:  JUNE 12, 2025

      The Senate Environment and Energy Committee reports favorably Senate Bill No. 4530.

      This bill directs the Board of Public Utilities (BPU) to open registration by August 1, 2025 for an additional 3,000 megawatts of community solar projects.  The bill requires the BPU to accept and approve registrations until the earlier of December 31, 2029 or such time as the 3,000 megawatts of solar energy projects are completely registered.  The bill directs the BPU 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 would also remove the 150 megawatt annual goal for community solar project registrations that is established under current law.