Modifies requirements for transmission-scale energy storage procurement under BPU incentive program.
The bill modifies certain requirements for transmission-scale energy storage procurement under the Board of Public Utilities (BPU) incentive program. It extends the deadline for the BPU to approve Tranche 1 and Tranche 2 incentive awards for eligible transmission-scale energy storage systems to December 31, 2026. The bill also modifies project maturity requirements to expand the number of projects eligible to receive incentive awards under Tranche 2.
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