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

This bill amends New Jersey's SREC-II solar incentive program to increase the annual solar development goal to 750 megawatts per year and extend target dates to 2035 (previously ending in 2026). It establishes a system where solar project owners earn renewable energy certificates (SREC-IIs) for each megawatt-hour of electricity generated, which utilities can use to meet state renewable energy requirements. Specific targets include 3,000 megawatts of community solar capacity by 2029 and 50 megawatts for small-scale remote net metering projects. These changes will affect solar developers who receive payments and ratepayers who fund the program through utility bills.