18.05.2012: The New Jersey State Senate’s Environment and Energy Committee has approved legislation (S1925) that would encourage further deployment of solar installations in New Jersey by increasing the amount of solar energy electric companies are required to purchase. According to local news source NJ Today, One of the bill’s sponsors, state Senator Bob Smith, said the bill would help stabilize New Jersey’s solar market: “Solar power has become so popular in New Jersey that the supply of solar energy has grown faster than the demand from energy companies. Rather than allowing this market’s growth to stagnate and the production of clean and domestically-produced solar energy to slow, we need to continue to supply incentives for New Jerseyans to purchase and install solar equipment, while keeping costs down for electric ratepayers. This bill is a great step in avoiding another bust of New Jersey’s solar market.” If the bill is approved, New Jersey’s Renewable Portfolio Standard (RPS) would be amended so that utilities would be required get more of their electricity from solar power generators each year beginning in energy year (EY) 2014 (energy years begin in June of the preceding year). According to the version of the bill passed by the senate committee, utilities would have to get 3.722% of their electricity from solar power generators in EY 2021, 4.180% in EY 2026 and 4.227% in EY 2028 and every year thereafter. Under current law, requirements are measured in gigawatt hours instead of percentages: energy providers must purchase 2,518 GWh in 2021 and 5,316 GWh in EY 2026 and every year thereafter. The bill would also introduce a lower cap on Solar Renewable Energy Certificate (SREC) prices – $325 in EY 2014 under S1925 compared to $625 under the current RPS. The bill will now be considered by the full senate. After California, New Jersey is the second largest solar market in the US. … Source: NJ Today; Summary: PHOTON http://njtoday.net/2012/05/18/senate-committee-advances-bill-to-boost-
solar-energy-market/ http://www.njleg.state.nj.us/bills/BillView.asp The complete press release can be viewed in PHOTON's archive using the following link:
http://www.photon-international.com/newsletter/document/65345.pdf |
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