NJ– Governor Murphy began drafting a new Energy Master Plan (EMP) for 2024 on Friday.
New Jersey’s new climate targets and subsequent state and federal policies will speed the state’s transition to a 100% clean energy economy in the 2024 EMP.
After five years of bold climate action in New Jersey, we must not only analyse our success but renew our commitment to a clean energy economy while taking stock of our resources, Murphy said.
We can only construct resilient and sustainable communities by creating and implementing a new climate mitigation policy. The 2024 Energy Master Plan will better reflect economic costs and benefits, ratepayer consequences, and state and federal policy implications as we move toward a clean energy future.
“Since the Murphy Administration began, we have responsibly pursued a clean energy plan supported by actual evidence and focused on providing considerable benefits for all New Jerseyans,” said Jane Cohen, Office of Climate Action and the Green Economy Executive Director.
We want to optimise this pathway to a sustainable energy future by engaging in rigorous stakeholder engagement, examining economic and ratepayer consequences, and developing a strategy that better represents our current policy tools and resources.
With Executive Order No. 28, Governor Murphy directed the New Jersey Board of Public Utilities (NJBPU) to design the 2019 EMP as a statewide roadmap to achieve a 100% clean energy economy by 2050 while meeting offshore wind development and energy storage targets at the lowest cost.
The 2019 EMP envisioned a world-leading innovation economy that invests in communities, sensitive ecosystems, and public health while thoroughly addressing New Jersey’s energy system and its greenhouse gas emissions and air pollutants.
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The 2024 EMP will update and enhance this pathway with new state and federal policies and how federal financing through the Infrastructure Investment and Jobs Act and the Inflation Reduction Act will support vital clean energy measures.
Data-driven modelling needs more time to show the full economic and environmental implications of renewable energy policy in the EMP. To inform the Energy Master Plan Committee’s report, early 2023 stakeholder meetings will be postponed until later in the year.
“The Administration’s clean energy policies on ratepayers are crucial as we launch the new Energy Master Plan,” stated NJBPU President Joseph L. Fiordaliso. “NJBPU looks forward to working with state cabinet colleagues to implement our clean energy programmes to fulfil the Governor’s objective of 100% renewable energy by 2050.
With climate change’s destructive effects, we must continue to implement the correct policies for New Jerseyans to clean up the environment, enhance health, and grow the state’s clean energy industry.
“Accurate and updated energy sector modelling is crucial to ensuring that the next energy master plan continues to complement the Global Warming Response Act and work effectively in moving New Jersey towards our carbon emission reduction goals,” said Environmental Protection Commissioner Shawn M. LaTourette.
“The shift to a clean energy future is vital not only for our environment and enhancing the health and well-being of our inhabitants but also for our economic future,” said New Jersey Economic Development Authority CEO Tim Sullivan.
“New Jersey has led the clean energy sector by combating climate change under Governor Murphy. An updated Energy Master Plan will open more doors to high-quality, well-paid jobs for our family today and in the future.
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