S.1606

New Jersey S1606 would establish a program to incentivize the construction of small modular nuclear reactors in the state.

New Jersey S1606, the "Small Modular Nuclear Energy Incentive Act," would direct the Board of Public Utilities (BPU) to establish a competitive solicitation program for the construction of small modular nuclear reactors (SMRs). The BPU would issue financial incentives, known as SMR incentives, for each megawatt hour of electric energy produced by the reactors. The amount of the incentive would be determined through a competitive solicitation process. The bill would authorize the BPU to use moneys in the "Global Warming Solutions Fund" to fund the SMR incentives.