April 13 (Renewables Now) – New Jersey lawmakers on Thursday passed legislation that the solar industry said will stabilise the solar market and maintain more than 7,100 solar jobs in the state.
Assembly bill A3723 and its companion bill in the Senate, S2314, call for renewable energy portfolio standards of 35% by 2025 and 50% by 2030, and also provide for a community solar programme.
The Solar Energy Industries Association (SEIA) said that the legislation will stabilise the solar market through 2021 by increasing the solar target, closing the current solar renewable energy credit trading programme in an orderly way and initiating a process for considering the next generation of solar incentives in the state. The solar target by 2021 is set at 5.1%, which SEIA said is up from 4.1%.
“The New Jersey legislature took a major step today toward protecting thousands of solar jobs that were at risk,” said Sean Gallagher, SEIA’s vice president of state affairs.
The bill will now need to be signed into law by the New Jersey governor.
“New Jersey is paving the way for a future where citizens can create, store, and share solar power with their neighbors and make our energy system more affordable, clean, and reliable for the whole community,” commented Anne Hoskins, Chief Policy Officer of solar company Sunrun Inc (NASDAQ:RUN).
By Plamena Tisheva