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New Jersey and Illinois Progress Toward Renewable Energy Goals

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.

For more information on these bills, please reference these articles from Green Tech Media: New Jersey
Illinois

New Jersey and Illinois Progress Toward Renewable Energy Goals

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.

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New York City Renews Tax Credit for Customers Using Third Party Energy Suppliers

April 3, 2018

New York State has officially adopted its FY 2019 budget, and the final version comes with a pleasant surprise for property managers and building owners. The final budget maintains a popular tax exemption for properties that utilize third party energy supply companies (ESCOs). With the tax exemption, customers in New York who receive electricity and gas from an ESCO pay 4.5% on the delivery portion of their energy bill, as opposed to the full 8.875%. Preliminary drafts of Governor Cuomo’s bill terminated this tax exemption.

For more information on the New York State Budget, please visit their website at https://www.budget.ny.gov/.

New York City Renews Tax Credit for Customers Using Third Party Energy Suppliers

April 3, 2018 New York State has officially adopted its FY 2019 budget, and the final version comes with a pleasant surprise for property managers and building owners. The final.

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