New Jersey S631 mandates the Board of Public Utilities to create a pilot program offering incentives for new energy storage systems.
New Jersey S631 requires the Board of Public Utilities to establish a pilot program to incentivize the installation of new energy storage systems. The program includes upfront and performance incentives for owners of customer-sited and front-of-the-meter energy storage systems. The upfront incentive is a one-time payment based on the system's installed capacity, while the performance incentive compensates for the system's benefits to the grid. The pilot program aims to meet or exceed the state's goal of hosting two gigawatts of energy storage capacity by 2030.
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- Core Provisions
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- Legal Framework
- Critical Issues
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