April 13, 2018
New Jersey and Illinois have each adopted legislation to increase their renewable energy targets.
New Jersey now aims to have the state use 35% renewable energy by 2025 and 50% by 2030. This new legislation aligns the state with the targets of New York and California; the leaders in the renewable energy space.
In addition, the New Jersey bill adds a $300M subsidy for the state’s existing nuclear power plants. This subsidy will be passed through to end-users at a rate of $.004/kWh starting in 180 days.
Illinois has also made recent progress on its renewable energy goals. The state approved a roadmap to hit their targets of 25% renewable energy by 2025. Specifically, the plan outlines procurement for distributed solar energy and also ways to offer solar energy to low-income areas. For now, it is unclear if this will affect end-users’ bottom lines.