TRENTON, NJ — Gov. Chris Christie has signed legislation that he says will strengthen and encourage the continued growth of New Jersey’s solar industry while protecting ratepayers from increased costs.
The measure dramatically increases the number of solar subsidy credits that New Jersey’s electric utilities must buy. Proponents say that should help increase prices for the credits and keep the solar industry healthy.
With the exception of California, New Jersey has built more solar projects than any state in recent years. That produced a glut of solar subsidy credits, driving down prices.
Environmental groups praised the bill Christie signed Monday, saying it will help the state maintain its robust solar program. Solar industry leaders also supported it, though some hope more will still be done to boost the solar power marketplace.