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 households. Overall, these measures remove approximately 350,000 metric tons of harmful emissions annually, while keeping consumer welfare in mind.

The landmark ruling pulls New Jersey in line with leading states on climate change

These goals bring New Jersey closer to states leading the way for renewable energy and greenhouse gas reductions such as California and Massachusetts. These states have had progressive clean energy policies since before President Trump took office, with California long being a leader in environmental policies, capital, and technology. The Golden State’s population and GDP have had an inverse relationship with its per capita carbon dioxide emissions for the past two decades, a feat made possible with some of the strongest environmental laws ever passed. Meanwhile, Massachusetts has a strong focus in the areas of energy efficiency and renewable energy, earning it the title of the most energy efficient state in the nation.

Environmental policies are going against federal tide

In truth, the New Jersey ruling is one of the biggest new state policies on environmental protection since the election of President Trump. He announced the withdrawal of his nation from the Paris climate agreement and also expressed support for the fossil fuel industry. Efforts to cut down carbon emissions have since failed to pass Washington and Oregon legislatures this year, but this sobering news hasn’t stopped governors from continuing to push environmental policies forward. Expect that the fight against climate change will continue to be an uphill climb with the 2019 budget, the draft for which includes significant cuts to energy projects across the nation.

Renewable energy is good for the economy and social welfare

When it comes down to it, however, it is clear that renewable energy is only going to be good for the economy and social welfare, according to Business.com. State investments in green energy sources like bioenergy, water, and wind create jobs, lower consumer expenses, and can help ensure universal access to energy. Environmental policies also aim to lessen dependence on non-renewable resources, which can become too expensive, difficult to retrieve, and have a damaging impact on the environment. In fact, Nadex revealed that prices of crude oil are already expected to rise in light of rising tensions in the Middle East, as well as increasing demand from markets where economic growth is occurring without environmental protection. This can also potentially influence more support for renewable energy in the future, not just for their environmental benefits, but for cheaper prices down the line.