Full Title: New Jersey’s Pathway to a 100% Carbon-Free Electricity Supply: Policy and Technology Choices Through 2050
Author(s): Qingyu Xu, Neha Patankar, Chuan Zhang, Jesse D. Jenkins
Publisher(s): Princeton ZERO
Publication Date: March 14, 2022
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Description (excerpt):
The goal of this study is to provide a detailed assessment of key policy and technology options and choices and their implications for New Jersey’s pathway to 100% carbon-free electricity. In particular, this study examines least-cost pathways to reach New Jersey’s current laws and stated policy goals under a range of possible future conditions and explores the role of in-state solar PV, offshore wind, nuclear power, and imported electricity in the state’s electricity future. Our goal is to provide an independent assessment of costs and trade-offs associated with different choices facing New Jersey stakeholders provide actionable insights for decision-makers.
For this study, we use a state-of-the-art open-source electricity system optimization model, GenX, which plans investment and operational decisions to meet projected future electricity demand while meeting all relevant engineering, reliability, and policy constraints at the lowest cost. We create a detailed model of the electricity system of New Jersey, the PJM Interconnection, and neighboring grid regions (15 total zones, two in NJ, nine in PJM) and explore a range of policy, technology, and fuel price scenarios to assess options for New Jersey to reach a 100% carbon-free electricity supply by 2050.