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New Jersey Progresses Toward Renewable Energy Goals – Update

June 4, 2018

Updating from our recent article in April, New Jersey Governor Phil Murphy has officially signed new clean energy legislation into law. In addition to signing the expected bills, Governor Murphy also signed an executive order directing the government to compile a master plan to achieve a new goal of 100% renewable energy by 2050.

Overall, here are the main takeaways that Stanwich Energy Advisors would like to highlight about the new energy bills that have been passed:

1. Establishment of a Zero Emissions Certificate (ZEC) Program. Electricity distribution companies will be collecting these new ZEC charges from their customers.

2. Solar RECs. The bill increases solar targets in each year from 2019 through 2027, then gradually reduces the targets through 2033. These SRECs will show as new charges for New Jersey customers.

3. Class I RECS. The bill requires a 21% Class I REC target beginning in 2020, increasing to 35% by 2025, and then to 50% by 2030.

These new implementations will all result in additional costs for the energy that your building purchases. For more information about how these new bills will affect your specific buildings, please contact your Stanwich Energy advisor.

To read more about the bills that were just passed in New Jersey, please see this press release from the Office fo the Governor.

New Jersey Progresses Toward Renewable Energy Goals – Update

June 4, 2018 Updating from our recent article in April, New Jersey Governor Phil Murphy has officially signed new clean energy legislation into law. In addition to signing the expected.

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Connecticut Passes Legislation Overhauling Energy Policy

May 24, 2018

Connecticut lawmakers have recently passed a new energy bill as part of efforts to reduce greenhouse gas emissions.

Senate Bill 9, “An Act Concerning Connecticut’s Energy Future,” passed both the House and the Senate in landslide victories. Governor Dannel Malloy signed the bill into law today. The bill officially implements the 2018 Comprehensive Energy Strategy (CES) that was finalized earlier this year.

The main pieces of the legislation that could directly impact the price of energy for end-users is the increase in the Renewable Portfolio Standard (RPS) from the original 20% by 2020 to 40% by 2030. This increases the total amount of renewable energy being used in Connecticut, which can sometimes cost more than traditional energy sources. The year-by-year increases are outlined below.

CT RPS Increases

While the exact costs of these changes are not yet known, it is important to be aware of them in the coming years. Stanwich Energy Advisors will continue to monitor these changes and will update when more information is available.

You can read the full Senate Bill 9 from the ct.gov here.

Connecticut Passes Legislation Overhauling Energy Policy

May 24, 2018 Connecticut lawmakers have recently passed a new energy bill as part of efforts to reduce greenhouse gas emissions. Senate Bill 9, “An Act Concerning Connecticut’s Energy Future,”.

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