06.27.2012Author: Cynthia L. M. Holland, Esq. View the article (pdf) On June 25, 2012, the State Legislature passed S1925/A2966. The bill modifies the Renewable Portfolio Standard (“RPS”), a regulatory mechanism intended to promote the increased use of renewable energy, such as solar, in the State. In particular, the bill amends the solar RPS in an effort to stabilize the solar market and enable its continued growth. The bill also authorizes the Board of Public Utilities (“BPU”) to exercise new regulatory oversight of solar projects in the State. Once signed by Governor Christie, the bill will take effect immediately. The overall goal of the bill is to bring stability to the solar market. Within two years of the bill’s enactment, the BPU is required to complete an investigation into the approaches available to mitigate the volatility in the solar development market. Likewise, the bill requires the BPU to register solar facilities and monitor project milestones. This investigation and monitoring, as well as the BPU’s oversight, are intended to give the solar industry permanence in the State. For further detail, please click above.