What We Are Watching For in 2024
Federal money lifting up state clean energy and climate goals
Federal funds to bolster state and local clean energy projects and rebates for consumers will continue to flow into New Jersey in 2024. But how successful New Jersey is in capturing the money depends on capacity at state and local governments to handle grant applications and other requirements to unlock funding and consumer awareness of tax credit and rebate programs. Case in point, there is over $4 billion available from the Climate Pollution Reduction Act in competitive grants, with applications due April 1, 2024.
Decision time on NJ’s Environmental Justice Rule
There are several pending decisions under both the new Environmental Justice rule and the previous NJ Department of Environmental Protection Administrative Order, including permits for energy and solid waste facilities. It will be important to see more transparency on when these decisions are made and whether or not they impacted proposed projects and their permits.
Recycling (again)
A perennial issue in NJ takes on even more significance as we will continue to see the state legislature attempt to influence the market for both recycled content and recycling. Municipalities are feeling the pinch as recycling rates fluctuate and fewer companies bid on contracts. Increasing recycling rates for everything from plastics to food waste needs to take a significant step forward if NJ wants to meet its climate goals.
Revisiting Clean Energy Standards
The conversation started in the Lame Duck legislature and will continue in the new session – what is clean energy, where does it get built, and who benefits from the jobs it creates. This is about more than offshore wind and the state needs important breakthroughs in order to continue progress on seeing the benefits of a clean energy future.
New Legislators = New Opportunities
The incoming NJ Legislature will see more new legislators than any time in recent memory, which means an opportunity to cultivate new leadership and shake up committees.
Big Ticket Infrastructure Needs and Dwindling Funding Sources
Everything from mass transit to roads to water infrastructure is facing funding lapses or significant gaps, with few new funding options on the table and some even going away (looking at you corporate business tax and federal COVID funding!). It will be interesting to see if these types of investments get wrapped up into the state budgeting process, resulting in a “down to the wire” funding package that could leave commuters and ratepayers footing the bill.
