Governor Chris Christie released the state’s final 2011 Energy Master Plan, which is described as strategically balancing the development of new sources of clean energy, including natural gas, with renewables. The plan, which is the governor’s vision for the use, management, and development of energy in the state, builds upon what he sees as his efforts to make New Jersey the largest and fastest-growing solar energy market in the United States. Additionally, the administration proposes to address the current drop in the market price of solar renewable energy certificates (SRECs) with a plan designed to encourage growth of the solar industry and create the necessary certainty that will allow financial community to invest in energy development.
The Governor’s office has focused on the following:
- Accelerate the Renewable Portfolio Standard (RPS) and reduce the Solar Alternative Compliance Payment (SACP)
- Returning to the percentage obligation for solar
- Promoting Solar Installations that Provide Economic and Environmental Benefit by Limiting SREC Eligibility
- Expanding Opportunities for Solar
- Drive down the cost of energy for all customers
- Promote a diverse portfolio of new, clean, in-state generation
- Reward energy efficiency and energy conservation and reduce peak demand
- Capitalize on emerging technologies for transportation and power production
- Maintain support for the renewable energy portfolio standard of 22.5 percent of energy from renewable sources by 2021
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