The New Jersey Board of Public Utilities (NJBPU) has unveiled the 2024 New Jersey Energy Storage Incentive Program (NJ SIP) Straw Proposal, which outlines plans for advancing energy storage in the state. A virtual stakeholder meeting is scheduled to gather feedback on this proposal.
Christine Guhl-Sadovy, President of the NJBPU, stated, "Creating the framework for energy storage is one of the most significant actions we will take to create a more resilient electric grid in New Jersey. We look forward to getting feedback on this proposal."
New Jersey aims to achieve ambitious energy storage targets with a statutory mandate of 600 megawatts by 2021 and 2,000 megawatts by 2030. The initiative is part of efforts to enhance grid resilience, reduce carbon emissions, and transition to clean energy.
The NJ SIP Straw Proposal suggests creating two segments for Front-of-Meter and Behind-the-Meter energy storage incentives. This approach is similar to the Successor Solar Incentive (SuSI) Program but focuses on stand-alone Grid Supply energy storage projects and solar-plus-storage projects not eligible under SuSI. Only new projects will qualify for incentives.
A virtual stakeholder meeting is set for November 20, 2024, where the NJSIP Straw Proposal and draft rules will be presented. This proposal builds upon previous input gathered through a Request for Information issued in August 2023.
For further details about the NJSIP Straw Proposal and the upcoming meeting, visit: https://nj.gov/bpu/pdf/publicnotice/Notice-Stakeholder%20Meeting.pdf.
The New Jersey Clean Energy Program (NJCEP), established in 2003 under the Electric Discount and Energy Competition Act (EDECA), offers financial incentives for high-efficiency or renewable energy technologies across residential, business, and school sectors in New Jersey. More information can be found at www.NJCleanEnergy.com.
The NJBPU regulates essential services such as natural gas, electricity, water, wastewater, telecommunications, and cable television within New Jersey. It ensures these services are safe and reasonably priced while also addressing consumer complaints and utility incidents. For more information about NJBPU's roles and responsibilities, visit www.nj.gov/bpu.
