Utility Dive•about 1 month ago
New Jersey governor orders state to accelerate solar, storage and virtual power plants
Key Takeaway
New Jersey is aggressively pushing for rapid deployment of solar, storage, and virtual power plants, coupled with a fundamental re-evaluation of utility business models to facilitate this transition.
AI Summary
- •New Jersey Governor Mikie Sherrill has ordered the acceleration of solar, energy storage, and virtual power plant (VPP) deployment across the state.
- •Regulators are mandated to study and propose ways to 'modernize' the traditional electric utility business model, aiming to make utility profits less reliant on capital spending.
- •This directive signals significant new market opportunities for developers in solar, storage, and VPP projects, and potential new grid participation options for large power consumers in New Jersey.
Topics
interconnectpolicysolarstorage
Article Content
Gov. Mikie Sherrill, who was sworn in Tuesday, also ordered regulators to study how to “modernize” the traditional electric utility business model, including by making utility profits “less dependent on capital spending.”