NJ plans billions more in solar subsidies billed to ratepayers [View all]
New Jersey residents already have paid $3 billion to subsidize firms installing solar panels.
All residents paid for the subsidies through added charges on their monthly utility bills, making it a regressive tax that falls hardest on those least able to afford it. Worse yet, the benefits went overwhelmingly to affluent homeowners and businesses who could afford the subsidized solar panel systems. The working poor and disadvantaged minorities were compelled to pay for a lucrative energy benefit for others.
Two years ago the Legislature and Gov. Phil Murphy enacted a law to rein in the excessive solar subsidies. Under that, one form of the subsidies ended in April when the state reached a benchmark of 5.1% of its retail electricity from solar.
Yet the state is planning to provide new subsidies to the solar industry that will cost utility customers an estimated $800 million annually starting next year and $1.4 billion a year by 2030, according to a report by its consultant, Cadmus Group.
Read more: https://pressofatlanticcity.com/news/breaking/our-view-nj-plans-billions-more-in-solar-subsidies-billed-to-ratepayers/article_4b5e3735-acc3-54c6-8ea8-66568c17f8ea.html
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