Requires study of ocean energy potential; directs BPU to establish wave and tidal energy generation goals and take other action to establish NJ as nationwide leader in ocean energy.

This bill requires New Jersey's Board of Public Utilities (BPU) and Environmental Department to conduct a study of wave and tidal energy potential after completing a pilot project. Within 15 months of the pilot's completion, they must submit a report with specific generation targets (in megawatts) for wave and tidal energy by 2030, 2040, and 2050. The report will guide updates to the state's Energy Master Plan to incorporate these goals, alongside exploring incentives like renewable energy credits. The legislation aims to position New Jersey as a national leader in ocean energy development while advancing the state's clean energy targets.