The New Jersey Business & Industry Association (NJBIA) testified in support of a legislative bill, A-4217, sponsored by Assemblyman Robert Karabinchak, which proposes expanding the use of the state Global Warming Solutions Fund. This bill would allow the New Jersey Economic Development Authority (NJEDA) to offer grants or financial assistance for projects aimed at refurbishing or upgrading existing electricity generation facilities. Projects qualifying for funding must demonstrate a measurable reduction in greenhouse gas emissions or energy demand, with the potential inclusion of technologies like hydrogen fuel cells and carbon capture. The fund, sourced from the Regional Greenhouse Gas Initiative (RGGI), a multi-state effort to reduce carbon dioxide emissions, has already allocated significant amounts for clean energy investments in New Jersey. NJEDA has received $98.5 million from RGGI funds since 2021 for this purpose. The NJEDA, along with other state entities, has collectively directed $204.4 million in RGGI funds towards various environmental and clean energy initiatives. NJBIA's Deputy Chief Government Affairs Officer emphasized the need for both pragmatic solutions and innovation in the long-term decarbonization of the energy sector. The positive response to the bill, as evidenced by its unanimous release by the Assembly committee, indicates support for advancing clean energy projects and embracing technological advancements in New Jersey's energy landscape.