Establishes alternative compliance payment to satisfy Class II renewable energy requirements.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill establishes an alternative compliance payment, called an ‘Alternative Compliance Payment’ (ACP), that electric power suppliers can use to meet certain Class II renewable energy requirements in New Jersey. Instead of directly generating Class II renewable energy, suppliers can pay this ACP to the state. This aims to streamline compliance and potentially encourage renewable energy development by offering a flexible option for meeting regulatory standards.
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