New Jersey S4602 allows for long-term public contracts up to 25 years for electricity and related products for energy storage systems.
New Jersey S4602 amends the "Local Public Contracts Law" to authorize long-term public contracts of up to 25 years for the provision of electricity and related products and services for energy storage systems. This bill modifies the existing law which generally limits contracts to 24 months, with specific exceptions for certain services. The new provision specifically addresses contracts for electricity and related products for energy storage systems, expanding the allowable contract duration to 25 years.
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