BPU begins new decade by revising solar subsidies, hoping to keep sector strong

Solar farm, Holland Twsp, NJ

TOM JOHNSON / NJ SPOTLIGHT – The state yesterday took a number of steps to overhaul its 16-year-old system for financing solar projects, actions officials hope will ensure a robust sector remains active in New Jersey over the coming decade.

In a bimonthly meeting, the state Board of Public Utilities moved to formally adopt new incentives to keep the industry afloat during a transitional period while directing its staff to figure out when to shut down the current financing system.

Perhaps more importantly, the agency scheduled a meeting with stakeholders next Wednesday to review critical issues that remain unresolved on how to create a program that will keep New Jersey’s solar market viable and growing.

A law signed by Gov. Phil Murphy in 2018 created widespread uncertainty about the state’s solar program, mostly because it said the incentives provided to developers were too costly and should be replaced by less expensive subsidies to reduce costs to utility customers …

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