Requires BPU to procure and incentivize transmission-scale energy storage.

This bill requires New Jersey's Board of Public Utilities (BPU) to establish a program to incentivize the development of transmission-scale energy storage systems with a minimum capacity of 5 megawatts. The program will solicit applications for projects totaling at least 500 megawatts of capacity, with projects needing commercial operation by December 2030 and interconnection to the PJM grid. The BPU will provide incentive awards totaling at least $60 million annually for 15 years, based on a scoring system that evaluates price, project maturity, and community benefits. The program is designed to help New Jersey meet its 2030 energy storage target of 2,000 megawatts, with the BPU required to report on progress one year after the initial procurement.