NJ A6155

Requires the Board of Public Utilities (BPU) to establish a distributed energy storage capacity program for electric utilities to develop 500 megawatts of energy storage capacity by 2030 to improve grid stability and reduce interconnection costs

Creates a distributed energy storage incentive program within 120 days to support development of at least 1,500 megawatts of customer-sited and front-of-the-meter energy storage systems by 2030, with first-year awards capped at 350 megawatts on a first-come, first-served basis

Provides 15-year fixed incentive payments based on storage system capacity, with total present value not exceeding 35% of project cost; includes enhanced incentives for projects in overburdened communities and those serving critical community facilities

Reserves at least one-third of customer-sited incentive awards for low-to-moderate income customers and customers in overburdened communities

Sets combined target of 3,000 megawatts of new energy storage capacity by 2030 across all state energy storage programs, and requires electric utilities to file new tariffs for front-of-the-meter storage systems within 12 months