New Jersey Joins Ranks of California and Massachusetts in Fight Against Climate Change

New Jersey Joins Ranks of California and Massachusetts in Fight Against Climate Change

New Jersey sets ambitious goals for renewable energy Assembly Bill 3723, passed last month, sets the Garden State’s energy sector on track to expanding renewable energy and curtailing greenhouse gas emissions. The landmark ruling requires power companies in New Jersey to generate 50% of their electricity from renewable sources by 2030. It also provides a $300 million annual subsidy for existing nuclear power plants, which provide 40% of the state’s electricity. To ensure inclusion, community solar programs will guarantee access for all citizens, with particular emphasis on low-income and multifamily…

Read More

Study calls for reform to energy subsidies

Energy subsidies may be outdated and could be much more costly than previously thought A new study from the International Monetary Fund suggests that the cost of fossil-fuels is much higher than many believe. The study has found that the post-tax subsidy for energy, which also represents the environmental and health costs associated with traditional forms of power, will be $5.3 trillion in 2015. This is approximately 6% of the global gross domestic product and this is more than twice as high as the original predictions from the International Monetary…

Read More