SOUTH JERSEY (KYW Newsradio) — New Jersey is taking a step towards producing more clean energy thanks to a new program.
Approved by New Jersey’s Board of Public Utilities, the Competitive Solar Incentive Program encourages competition for large-scale solar projects by increasing bids from contractors who want to build large solar farms.
It aims to provide enough electricity to power 100,000 homes per year and will create an additional 300 megawatts of solar power annually until 2026, bringing costs down.
While this isn’t a residential solar program, homeowners will see their energy rates reduced as more solar farms are built, said Joseph Fiordalis, president of the Board of Utilities.
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Fiordalis feels this is a reflection of their continued, unwavering commitment to the solar industry.
“I think that this is something that is going to continue to keep New Jersey on the front burner as far as solar is concerned.”