The Environmental Markets Association (“EMA”) appreciates the opportunity to provide input to the Clean and Renewable Energy Work Group (“Work Group”). EMA applauds Governor Murphy’s goal of establishing a path to 100% clean energy for New Jersey (“NJ”) by 2050 and commends the Board of Public Utilities (“BPU”) for its leadership in making New Jersey a national leader in renewable energy. NJ’s renewable portfolio standard (“RPS”) policy has been successful at incentivizing new clean and renewable energy generation since its enactment and serves as an example for other states’ policymakers. We look forward to participating in this process to ensure NJ accomplishes its economic and environmental sustainability policy objectives in the most efficient and cost-effective manner.
The EMA is a U.S.-based trade association representing companies that have interests in the trading, legislation, and regulation of environmental markets. EMA was founded in 1997 as a 501(c)(6) not-for-profit organization. The members have decades of extensive, first-hand experience with market instruments related to federal and regional cap-and-trade programs in sulfur dioxide, nitrogen oxide, and greenhouse gas emissions, as well as state-driven renewable energy certificate (“REC”) programs. EMA’s diverse member group represents a wide variety of participants in the clean energy markets, from utilities and electricity suppliers to renewable energy project developers and investors. Our members have extensive operational experience with RPS compliance, REC trading, and renewable energy investment in several states and, collectively, have contributed to the aggregate economic investment of billions of dollars to achieve NJ’s RPS. The EMA has a vested interest in the continued success of market-based mechanisms and RPS programs throughout the U.S. Given this, we believe that the EMA is uniquely qualified to share its experience with the Work Group and the EMP process that New Jersey is embarking on, especially as it relates to NJ’s RPS and its continued use as the primary policy framework on the path toward 100% clean energy by 2050.
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