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 directs New Jersey's Board of Public Utilities and the Department of Environmental Protection to conduct a study on the potential for wave and tidal energy within the state. The study will evaluate impacts on energy prices, ecosystems, and the grid, while also exploring the feasibility of creating renewable energy credits or other incentives to encourage development. Following the study, the bill requires the state to update its Energy Master Plan to include specific goals for ocean energy and take steps to position New Jersey as a national leader in this sector.