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Assembly committee extends SREC II program, sets higher solar target through 2035
Summary
The panel released AB3969 (concurred with S39669) as amended to extend the SREC II program’s targets to 2035 and adjust annual megawatt targets; proponents said it preserves solar jobs and avoids losing federal incentives, while the Division of Rate Counsel warned of added costs to ratepayers.
The Assembly Telecommunications and Utilities Committee released AB3969 (the assembly version of S39669) as amended, a bill that adjusts targets under the State’s SREC II solar incentive program and extends program timelines to 2035.
Committee amendments modify the new target levels (the clerk read modified megawatt targets) and make technical changes; sponsors and industry witnesses said extending the program preserves jobs and avoids losing federal tax advantages that are phasing out for new projects. Lyle of MSSIA and solar-industry representatives said the state program was proposed by the Board of Public Utilities to maintain current levels and protect an estimated workforce tied to solar deployment.
Opposition and concerns: Brian Lippman of the Division of Rate Counsel supported solar in principle but opposed this extension as written, arguing it would add billions to ratepayer costs (he cited roughly a $5 billion figure in committee testimony) and questioned whether the additional incentives are necessary and whether there is adequate accounting for how incentive dollars are used. Committee members debated the trade-offs among near-term affordability, long-term generation diversity (nuclear and natural gas), and the program’s role in expanding community solar access for individuals and small businesses.
Vote and follow-up: After extended discussion and offers by industry to provide profitability data and to work with rate counsel on amendments, the committee released the bill as amended. Chairman D'Angelo announced upcoming site visits (a nuclear plant tour and a PJM interconnection visit) before adjourning.
