Authorizes long-term public contracts of up to 25 years for provision of electricity and related products for energy storage systems.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill would allow the state of New Jersey to enter into long-term contracts, lasting up to 25 years, with companies that provide electricity and related products for energy storage systems. These systems are used to store energy, often from renewable sources, and help stabilize the power grid. The goal is to encourage the development and deployment of energy storage technology within the state. This legislation aims to support the transition to a more resilient and sustainable energy system.
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