eLab Accelerator 2020
Regulatory Options to Enable 100% Clean Energy for New Jersey
Project Description
New Jersey has committed to 100% clean energy by 2050. Thus far, in its efforts to achieve this ambitious goal, New Jersey has relied on a renewable portfolio standard and a variety of technology-specific incentives. To achieve the four-fold increase in renewables they’ll need, New Jersey would like to turn to a competitive market-based system to cost-effectively procure clean energy. However, New Jersey is part of a regional electricity market and is a restructured retail choice state. There has yet to be a restructured state in a multistate wholesale market to “crack the code” and enable significant market-based renewable energy procurement.
This Accelerator team is exploring regulatory options that would enable competitive markets to properly value clean energy technologies and thus position New Jersey and other PJM member states to meet ambitious policy goals at least cost.
What The Team Achieved By Participating in Accelerator
Accelerator provided the team a neutral forum ideal for kicking off New Jersey’s efforts to define a workable market design and explore pathways for implementing changes.
Team Members
- Abe Silverman, NJBPU, General Counsel
- Hannah Thonet, NJBPU, Senior Policy Advisor
- Brian Marrs, Microsoft, Senior Director, Energy Markets
- Cynthia Holland, formerly NJBPU, Director of Federal and Regional Policy
- Elizabeth Noll, The Coefficient Group
- Jane Cohen, State of New Jersey, Governor's Office, Senior Policy Advisor
- Karen Palmer, Resources for the Future, Senior Fellow
- Kathleen Spees, Brattle Group, Principal
- Kelly Mooij, NJBPU, Deputy Director of Clean Energy