The Energy Storage Association (ESA) applauds New Jersey Gov. Phil Murphy (D) for signing legislation that sets a new goal for increasing energy storage that will deliver significant economic, environmental and societal benefits to the state. Gov. Murphy joins leaders from California, New York, Massachusetts, Oregon, Nevada and Arizona who are enacting policies to encourage energy storage today.
The legislation directs the state Board of Public Utilities to study the benefits and costs of energy storage, and to develop a plan to attract energy storage companies to New Jersey. The priority on increasing rapidly growing investments and hiring in New Jersey is a boon for the energy storage industry and its potential new employees.
This effort to increase energy storage capacity in New Jersey will help lower costs for ratepayers and integrate more wind, solar power and distributed energy onto the grid. In addition, this storage will provide back-up power to critical facilities and enhance the resiliency of the grid during hurricanes and other extreme weather events.
We look forward to working closely with the Board of Public Utilities and other stakeholders to implement a cost-benefit evaluation, and to develop effective policies, programs and mechanisms to reach the full potential of energy storage in New Jersey.
Energy Storage Association | energystorage.org