Christie Signs Bill Increasing NJ Energy Requirements

Attention installers in NJ; Governor Christie Signed New Solar Bill!

Per the Bill and Bloomberg News:

“New Jersey utilities will be required to buy more solar energy under legislation signed on July 23, 2012 by Governor Chris Christie.”

“New Jersey developers added 174 megawatts of photovoltaic panels in the first quarter, surpassing California as the largest solar state with 34 percent of all U.S. installations, according to the Solar Energy Industries Association. The legislation will spur additional solar development, Christie said at a press conference in Trenton.”

“The state‚Äôs solar requirement will increase to 4.1 percent by 2028. The penalty for utilities that fail to meet the increasing percentage will be $339 for each megawatt-hour short of the goal in 2014, declining annually to $239 a megawatt-hour in 2028. Reducing the penalty will save utility customers about $1.1 billion over the next 15 years, according to the statements.”

Check out the full article and more info @ Bloomberg.com:

Christie signs legislation

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