Solar developers ready to fight new cap on incentives

Solar installation on commercial rooftop in Secaucus NJ

TOM JOHNSON / NJ SPOTLIGHT – Frustrated with actions by a state agency, solar developers plan to lobby the Legislature to relax provisions in a 16-month-old law they argue threaten to undermine the sector and hinder investments in new projects.

The dispute revolves around efforts by the Murphy administration and lawmakers to rein in the cost to utility customers of the subsidies developers receive to build new solar systems across New Jersey, an expense that could top $695 million a year by next June.

The task of achieving cheaper and better results for ratepayers has fallen to the Board of Public Utilities, but its proposal to slash incentives has been opposed by the industry, which contends the proposed subsidies are too low and will result in investments in the sector drying up, leading to widespread layoffs …

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