About 6% of New Jersey’s electricity is now provided by solar systems, capable of delivering about 4,220 MW of capacity as of the end of October. Only 789 MW of that is provided by grid-supply projects, considered by many as the most cost-effective way of building solar. The rest is provided by residential (1,339-MW) and commercial (2,045-MW) installations.
By Tom Johnson, NJ Spotlight News
A state agency approved a new program to develop projects that will deliver 300 megawatts of solar power, a policy aimed at lowering costs to utility customers and creating hundreds of jobs.
These grid-supply solar-capacity projects, to be awarded in a competitive process overseen by the New Jersey Board of Public Utilities, would represent the single largest purchase of renewable energy by the state outside of the planned offshore wind initiatives, according to BPU President Joseph Fiordaliso.
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“We expect to see significantly lower costs to ratepayers,’’ said Fiordaliso, who described the program as another step in the state’s unwavering support of solar power in New Jersey. The program will run until 2026.
The program’s unanimous approval Wednesday comes as the agency is under growing scrutiny over escalating costs to customers, who are paying for a big part of the transition from fossil fuels in higher monthly bills.
In response, the agency reduced ratepayer-funded incentives given to solar developers to install solar systems. In its board order, the agency noted incentive levels have declined by 30% to 70% for new projects, depending on what type of system is being installed.
If successful, the new grid-supply program, set to kick off in the first quarter of next year, would mark an important step in helping achieve the Murphy administration’s transition to a clean-energy economy by 2050. By mid-century, the state plans to have 34% of its electricity supplied by solar energy.
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