New Jersey Administrative Code › Title 14 - PUBLIC UTILITIES › Chapter 8 - RENEWABLE ENERGY AND ENERGY EFFICIENCY › Subchapter 2 - RENEWABLE PORTFOLIO STANDARDS › Section 14:8-2.3 - Amount of renewable energy required

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Each
				supplier/provider, as defined at
				N.J.A.C.
				14:8-1.2, that sells electricity to retail
				customers in New Jersey, shall ensure that the electricity it sells each energy
				year in New Jersey includes at least the minimum amount of qualified renewable
				energy required for that energy year, as specified in this section.
				Requirements for class I, class II, SRECs, and TRECs are set forth in Table A
				below:
Table A
What Percentage of Energy Supplied Must Be Solar, Class I, or
				  Class II Renewable
Energy Year
TRECs
SRECs
Class I
Class II
Total
June 1, 2018 - May 31, 2019
0%
4.30%
14.175%
2.50%
20.975%
June 1, 2018 - May 31, 2019*
0%
3.29%*
14.175%*
2.50%*
19.965%*
June 1, 2019 - Dec. 31, 2019
0%
4.90%
16.029%
2.50%
18.529%
June 1, 2019 - Dec. 31, 2019*
0%
3.38%*
16.029%*
2.50%*
21.909%*
January 1, 2020 - May 31, 2020
0%
4.90%
21.0%
2.50%
23.50%
January 1, 2020 - May 31, 2020*
0%
3.38%*
21.0%*
2.50%*
26.88%*
June 1, 2020 - May 31, 2021
based on retail sales
5.10%
21.0%
2.50%
23.50%
June 1, 2020 - May 31, 2021*
based on retail sales
3.47%*
21.0%
2.50%
26.97%
June 1, 2021 - May 31, 2022
based on retail sales
5.10%
21.0%
2.50%
23.50%
June 1, 2022 - May 31, 2023
based on retail sales
5.10%
22.0%
2.50%
24.50%
June 1, 2023 - May 31, 2024
based on retail sales
4.90%
27.0%
2.50%
29.50%
June 1, 2024 - May 31, 2025
based on retail sales
4.80%
35.0%
2.50%
37.50%
June 1, 2025 - May 31, 2026
based on retail sales
4.50%
38.0%
2.50%
40.50%
June 1, 2026 - May 31, 2027
based on retail sales
4.35%
41.0%
2.50%
43.50%
June 1, 2027 - May 31, 2028
based on retail sales
3.74%
44.0%
2.50%
46.50%
June 1, 2028 - May 31, 2029
based on retail sales
3.07%
47.0%
2.50%
49.50%
June 1, 2029 - May 31, 2030
based on retail sales
2.21%
50.0%
2.50%
52.50%
June 1, 2030 - May 31, 2031
based on retail sales
1.58%
50.0%
2.50%
52.50%
June 1, 2031 - May 31, 2032
based on retail sales
1.40%
50.0%
2.50%
52.50%
June 1, 2032 - May 31, 2033
based on retail sales **
1.10%
50.0%
2.50%
52.50%
(*BGS Providers with existing contracts)
**The TREC Obligation expressed as a percentage of retail
				  sales in a given energy year will not be known until each energy year when the
				  volume of retail sales subject to the RPS has been determined. Allocation of
				  the Statewide obligation to individual TPS/BGS providers will follow the method
				  set forth at (r) and (t) below.
(b) Each supplier/provider that sells
				electricity to retail customers in New Jersey shall ensure that the electricity
				it sells each reporting year in New Jersey includes at least the minimum
				percentage of SRECs and TRECs required for that energy year as set by the
				Board. The Board, in consultation with the NJDEP, EDCs, Rate Counsel, the solar
				energy industry, and relevant stakeholders, shall periodically consider
				increasing the renewable energy portfolio standards beyond the minimum amounts
				set forth in this chapter, taking into account the cost impacts and public
				benefits of such increases including, but not limited to:
1. Reductions in air pollution, water
				pollution, land disturbance and greenhouse gas emissions;
2. Reductions in peak demand for electricity
				and natural gas and the overall impact on the costs to electricity and natural
				gas customers;
3. Increases in
				renewable energy development, manufacturing, investment and job creation
				opportunities in New Jersey; and
4.
				Reductions in State and national dependence on fossil
				fuels.