New Jersey has devoted significant attention to renewable energy and adaptation in recent years as a result of Democratic Governor Phil Murphy’s leadership and the state’s vulnerability to climate threats, particularly flooding and coastal erosion. The state has established an emissions target of 80 percent below 2006 levels by 2050 and a 50 percent renewable target by 2030. Governor Murphy also signed an executive order that mandates the state reach 100 percent clean energy by 2050. New Jersey’s solar industry has grown rapidly, and it now ranks seventh in the country in installed solar photovoltaic capacity. The state has large potential in offshore wind, mandating 7,500 MW by 2035. Motivated by the destruction of its coast by Superstorm Sandy in 2012, New Jersey invested in climate resilience and adaption initiatives, including coastal infrastructure projects in partnership with the US Army Corps of Engineers. New Jersey is a member of the US Climate Alliance and was a founding member of the Regional Greenhouse Gas Initiative (RGGI) in 2005. Under Democratic leadership, New Jersey’s state government will likely continue to pass climate-related actions and invest in green economy projects in the short- to medium-term.
SHORT-TERM OUTLOOK THROUGH 2025 – NEW JERSEY
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