At the end of June, and just days before their summer recess, the New Jersey Legislature had passed a bill (S1925 / A2966) that will help further grow New Jersey’s successful and booming solar energy industry. Governor Christie signed that bill today and Matt Elliott, Environment New Jersey’s Clean Energy Advocate, issued the following statement:
“Today we applaud the Legislature and the governor for supporting a bill to help New Jersey continue to be the nation’s solar leader. We are pleased that the measure passed both houses of the Legislature with overwhelming bi-partisan support, reflecting the people of New Jersey’s strong support for clean, renewable energy, regardless of party affiliation. And we applaud Governor Christie for signing the bill into law today.
“Because of forward-thinking policies passed by the Legislature and Republican and Democratic governors alike over the years, New Jersey is one of the nation’s leaders on solar power. This bill continues that positive momentum. Currently, we have more solar per square mile than any other state in the nation, with nearly 16,000 solar installations on homes and businesses across the state. As a result, solar is cutting harmful air pollution, reducing our reliance on fossil fuels, keeping more of our energy dollars here at home, and creating thousands of local jobs.
“This bill ensures the continued success of our state’s solar economy. Because of our remarkable success on solar to date, we are building at a faster rate than ever anticipated. As a result, we’ve seen an oversupply of solar credits on the market, causing the value of those credits to plummet for homeowners and businesses. The bill that the governor signed into law today would accelerate the state’s solar requirements over the next few years, driving up demand for the credits and helping to stabilize the solar market, all while helping to bring twice as much solar to New Jersey in the very immediate future.
“The recent boom in solar development demonstrates that our state’s potential is much greater than previously anticipated. Moving forward, longer-term state policy must keep up with that potential. We should be increasing the state’s overall clean energy requirements and ensuring more of our clean energy goals are carved out for solar specifically. In the short term, however, this bill will ensure that New Jersey continues to be a solar leader. Without a doubt, today is a good day for solar in New Jersey.”