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Industry: Email Alert RSS FeedNew NJ RPS Sets Goal of 20 Percent Renewables by 2020
Renewable Energy Today, April 20, 2006
The New Jersey Board of Public Utilities (NJBPU) recently voted to approve new regulations that extend the existing goals of the state Renewable Portfolio Standard (RPS) from 2008 to 2020 and increase the required amount of energy obtained from renewable and solar sources to 20 percent by 2020.
"Strengthening the RPS will ensure the continued transformation of New Jersey's energy market," said NJBPU president Jeanne Fox. "Increased use of renewable resources and specifically solar photovoltaics will provide greater fuel diversity for New Jersey, while simultaneously reducing price volatility, strengthening the economy, improving public health and reducing greenhouse gases that threaten our shoreline."
According to NJBPU, the board's decision increases the current RPS requirement by more than five times. NJBPU noted that the standard will increase incrementally on an annual basis between 2008 and 2020.
The revised regulations also require a two-percent increase in the power produced by New Jersey photovoltaic systems by 2020, expanding the state's solar market from 90 megawatts (MW) to be installed by 2008 to 1,500 MW of solar power by 2020.
Contact: Doyal Siddell, NJBPU, phone 973-648-2595, website http://www.bpu.state.nj.us.
(EIN STAFF: 4/12)
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COPYRIGHT 2008 Gale, Cengage Learning
