PARI KASOTIA / NJ SPOTLIGHT – Gov. Phil Murphy has set two bold climate goals for the Garden State: 100% carbon-neutral energy by 2050 and economy-wide emissions reduction to 80% below 2006 levels by 2050. New modeling from the New Jersey Board of Public Utilities shows us how to get there.
New Jersey can meet these requirements with clean, existing technologies at a competitive price. Specifically, under the least-cost pathway, the costs would increase $34.7 billion in 2050 compared to $32.6 billion with the business-as-usual scenario, or 3.5% compared to 3.7% as a percentage of gross domestic product.
Reaching these targets will require additional policies as the model assumes significant electrification of the transportation sector and use of electric heat pumps in buildings. The BPU, through the Rutgers Energy Institute, is also undertaking a parallel study on the ratepayer impact of the findings …
Pari Kasotia is the Mid-Atlantic director for Vote Solar, an advocate for solar-friendly policies nationwide.