Governor Sherrill Signs Legislation to Accelerate Clean Energy Progress and Expand Energy Storage

A4529/S3819 Modifies certain requirements for transmission-scale energy storage procurement under BPU incentive program.

The enacted legislation will:

• Modify project maturity requirements in order to expand the number of projects eligible to receive incentive awards under the second segment of the transmission-scale GSESP, thereby increasing competition among bidders and protecting ratepayers from inflated pricing resulting from a supply-constrained solicitation pool.

• Extend the deadline, from June 30, 2026, to December 31, 2026, for BPU to approve the first and second segments of incentive awards for eligible transmission-scale energy storage systems under the GSESP. BPU estimates an additional 500 MW would be brought forward due to this change.