ASSEMBLY TELECOMMUNICATIONS AND UTILITIES COMMITTEE

STATEMENT TO

ASSEMBLY, No. 4529

STATE OF NEW JERSEY

DATED:  MARCH 13, 2026

      The Assembly Telecommunications and Utilities Committee reports favorably Assembly Bill No. 4529.

      As reported, this bill extends the deadline for the Board of Public Utilities (BPU) to approve Tranche 1 and Tranche 2 incentive awards for eligible transmission-scale energy storage systems under the energy storage program established by N.J.S.A.48:3-121.2 et al. (program).  Under current law, the BPU is required to approve incentive awards for eligible projects totaling at least 1,000 megawatts in installed capacity by June 30, 2026.  This bill extends that solicitation deadline to December 31, 2026.  The bill also modifies certain project maturity requirements in order to expand the amount of projects eligible to receive incentive awards under Tranche 2 of the program.