New Jersey passed legislation last week to incentivize the development of offshore wind projects.
The Offshore Wind Economic Development Act would establish an offshore wind renewable energy certificate (REC) program and authorize the Economic Development Authority (EDA) to provide up to $100 million in tax credits for wind energy facilities.
The bill would direct the Board of Public Utilities (BPU) to develop an offshore wind REC program to require that a percentage of electricity sold in the state be from offshore wind energy. This percentage would be developed to support at least 1,100 MW of generation from qualified offshore wind projects.
The legislation follows the completion of a two year study conducted by New Jersey’s Department of Environmental Protection to determine the most environmentally sound locations for offshore wind.
Alaska Energy Legislation
Alaska’s Republican Governor Sean Parnell signed legislation creating a statewide energy policy and an omnibus energy bill that he says will create jobs and stimulate the economy.
H.B.306 establishes an energy policy to guide the legislature, administration, utilities, conservation groups and Alaskans toward the goal of providing more affordable, abundant and reliable energy. The bill sets a goal for Alaska to generate 50% of its electricity through renewable resources by 2025, primarily through hydroelectric projects. Wind, solar, geothermal tidal, hydrokinetic and biomass energy will also be utilized.
Ironically, S.B.220, the Alaska Sustainable Energy Act, implements a statewide energy policy that recognizes the importance of Alaska’s fossil-fuel resources. However, it also identifies Alaska’s vast renewable energy potential and includes policy tools designed to attract investment in Alaska’s energy sector.
S.B.220 also requires older public buildings to make energy efficient improvements that will be funded through a loan program expected to create $250 million in bonds.
It also creates the Emerging Energy Technology Fund, which can be used to make grants for demonstration projects of technology that will be commercially viable within five years.
Washington’s I-5 to Become Electric Highway
With help from a $1.32 million federal grant, Washington State’s Transportation Department plans to turn Interstate 5 into the nation’s first "electric highway" with enough charging stations so electric vehicles can make the entire 276-mile trip from the Canadian border to the Oregon state line.
Read Seattle PI coverage at the link below.
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