ASSEMBLY APPROPRIATIONS COMMITTEE

STATEMENT TO

ASSEMBLY, No. 4529

STATE OF NEW JERSEY

DATED:  MARCH 19, 2026

      The Assembly Appropriations Committee reports favorably Assembly Bill No. 4529.

      As reported, this bill would extend 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.

FISCAL IMPACT:

      The Office of Legislative Services (OLS) determines that the bill may result in an indeterminate annual State expenditure increase for the New Jersey Board of Public Utilities due to administrative costs associated with modifying deadlines and eligibility requirements for the energy storage program established by P.L.2025, c.136.

      Under the bill, the extended application period and broader eligibility requirements for Tranche 2 of the program may result in a longer procurement window and a larger applicant pool, which may require additional staff review, bid evaluation, and compliance work, ultimately increasing the board’s workload.

      The bill does not modify the structure or individual amount of the fixed, 15-year incentive awards issued under the program.