New Jersey S691 increases solar development goals and extends the SREC-II program target dates to 2035.

New Jersey S691 amends the SREC-II program to increase the annual solar power generation goal to 750 megawatts per year and extends the program's target dates to 2035. The Board of Public Utilities is tasked with developing a small solar facilities incentive program to award SREC-IIs to community solar facilities and net metered solar facilities less than five megawatts in size. The bill also modifies the competitive solicitation process for awarding SREC-IIs to larger solar facilities, allowing the board to establish cost containment measures.

New Jersey S691 increases solar development goals and extends the SREC-II program target dates to 2035.

New Jersey S691 amends the SREC-II program to increase the annual solar power generation goal to 750 megawatts per year and extends the program's target dates to 2035. The Board of Public Utilities is tasked with developing a small solar facilities incentive program to award SREC-IIs to community solar facilities and net metered solar facilities less than five megawatts in size. The bill also modifies the competitive solicitation process for awarding SREC-IIs to larger solar facilities, allowing the board to establish cost containment measures.