Governor Phil Murphy announced the release of the 2024 Energy Master Plan (EMP), a guide for future energy policy in New Jersey. The report compiles data and recommends steps for future goals based on supply and demand. 

The EMP focuses on compiled data through October 25 from over the past 22 months. The goal was to incorporate the latest advancements in technology, policy, and programming to create affordable and clean energy. The report was prepared by a consulting team from Energy and Environmental Economics (E3), ILLUME Advising, and BW Research.  
 
The output of the 2024 EMP is a framework of strategies and policies that includes: 

• Accelerating Clean Energy Deployment: Increasing clean energy growth, such as solar, wind, advanced nuclear, green hydrogen, and battery storage. In doing so, the goal is to reduce electricity imports, boost in-state generation, grow clean energy jobs, increase resource diversity, and support long-term cost stability.
• Expanding Decarbonization and Efficiency Programs: The goal in expanding energy efficiency programming is for long-term bill reduction for participating residential and commercial customers.
• Ensuring a Reliable and Modern Grid: The New Jersey Board of Public Utilities has adopted the first set of regulatory changes aimed at improving transparency and the speed of interconnection for distributed energy resources.
• Transportation Electrification: New Jersey has made strides in advancing transportation electrification across multiple agencies to accelerate zero-emission vehicle (ZEV) adoption and expand charging infrastructure. The State’s strategy has included consumer incentives, utility investments, regulatory streamlining, and public-private partnerships.
• Ensuring Energy Affordability and Environmental Fairness: The Energy Equity and Affordability Report recommended expanding bill assistance, piloting time-of-use rates that offer lower-cost charging during off-peak periods, and lowering upfront costs of energy efficiency, heat pumps, and EVs for low- and moderate-income customers.
• Enhancing Regional Coordination and Advocacy: New Jersey recently joined with 10 other PJM States to sign a Statement of Intent to create a formal PJM Governor’s Collaborative to jointly address key challenges facing the region. The report recommends the continuation of that collaboration. 
• Driving Innovation and Workforce Development: The 2025 Growing Green Jobs report notes a 12% increase in the green economy workforce. Initiatives would include clean energy training hubs, apprenticeship expansion, and funding wraparound services for trainees in overburdened communities. 

Please review the components of the Energy Master Plan for the impact on your municipality. 

Contact: Erin Knoedler, Legislative Analyst, eknoedler@njlm.org, 609-695-3481, x116.