The New Jersey Board of Public Utilities has approved incentives for three transmission-connected battery energy storage projects totaling 355 MW, with plans for an additional 645 MW of standalone storage or solar-plus-storage. This fulfills the state's goal of procuring 1 GW of bulk energy storage by summer and 2 GW by 2030, with projects set to participate in PJM Interconnection's capacity auction next year. The projects, located at operating or retired fossil power plants, aim to save ratepayers over $169 million by moderating wholesale electricity prices during peak demand. New Jersey's push for energy storage is driven by strong market fundamentals and high capacity prices, with support from political leadership and plans to use funds from the regional greenhouse gas cap-and-trade program for ratepayer bill credits.