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• Modify project maturity requirements in order to expand the number of projects eligible to receive incentive awards under the second segment of the transmission-scale GSESP, thereby increasing competition among bidders and protecting ratepayers from inflated pricing resulting from a supply-constrained solicitation pool.
• Extend the deadline, from June 30, 2026, to December 31, 2026, for BPU to approve the first and second segments of incentive awards for eligible transmission-scale energy storage systems under the GSESP. BPU estimates an additional 500 MW would be brought forward due to this change.

This bill would extend the deadline for the Board of Public Utilities (BPU) to approve Tranche 1 and Tranche 2 incentive awards for eligible transmission-scale energy storage systems under the energy storage program established by N.J.S.A.48:3-121.2 et al. (program). Under current law, the BPU is required to approve incentive awards for eligible projects totaling at least 1,000  megawatts in installed capacity by June 30, 2026. This bill extends that solicitation deadline to December 31, 2026. The bill also modifies certain project maturity requirements in order to expand the amount of projects eligible to receive incentive awards under  Tranche 2 of the program.

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