NJ Senate Passes Bill To Shore Up Solar Market

Law360, New York (May 31, 2012, 9:10 PM EDT) -- The New Jersey Senate on Thursday approved proposed changes to the state's solar market that advocates say will prevent future crashes and encourage additional solar projects and jobs.

The bill, sponsored by Senate President Stephen Sweeney and Sen. Bob Smith, both Democrats, looks to stabilize the market by changing how much solar energy that energy companies must purchase each year and lowering the effective ceiling for solar renewable energy credit prices, which are passed on to ratepayers. The bill passed in a 24-7 vote and now...
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