Increases solar development goals of SREC-II program and extends certain target dates of program to 2035.

This bill increases New Jersey's solar development goal under the SREC-II program from 3,750 megawatts to 6,500 megawatts, extending the deadline from 2026 to 2035. It directly affects solar developers (including community solar projects and net-metered facilities under 5 megawatts), ratepayers (who fund the program via apportioned costs), and the Board of Public Utilities (which administers the program). Key mechanisms include new annual targets for small solar facilities (300 MW net-metered per year, 3,000 MW community solar by 2029, and 150 MW annually thereafter), and modifications to the competitive bidding process for larger solar projects to include cost containment measures. The bill ensures SREC-II certificates - representing renewable energy credits - remain transferable for compliance with state renewable energy standards through 2035.