Murphy Announces Release of 2024 Energy Master Plan

On Nov 24, 2025

Gov. Phil Murphy today announced the release of the 2024 Energy Master Plan (EMP). Considered a roadmap to guide future energy policy in New Jersey, the report looks back on progress made and recommends action steps over the next decade to provide New Jersey with a clean energy future while meeting demand and supply goals.

The development of the EMP spanned roughly 22 months, from early 2024 through October 2025. This edition, which builds on the 2019 EMP, according to the governor’s office, incorporates “the latest advancements in technology, policy, and programming to create an affordable and sustainable path and leverage the benefits of the clean energy economy.”

“This report is the culmination of our no-regrets strategy to tackling the challenges of energy affordability, supply and demand, and climate change,” said the governor. “I am proud of all that we’ve been able to achieve to make our energy sector cleaner and more efficient over the past eight years. This report’s recommendations will help guide energy policy to new heights in the future.”

Ray Cantor, deputy chief government affairs officer of the New Jersey Business & Industry Association, commented, “We appreciate the Murphy administration providing a status report of its energy policies before we close the book on the last eight years.  While we support ‘no regrets’ policies, we note that this version of the EMP contains the same fatal flaw as its predecessors, it establishes artificial deadlines for decarbonization that has led to the policy choices that have contributed to driving up the price of energy.

“Merely repeating the term ‘affordability,’ as this report does 60 times, does not make it so,” Cantor said. “We look forward to working with the incoming Sherrill administration to implement energy policies that truly focus on affordability, reliability, and technological advancement.  Working together, we can achieve both our energy and decarbonization goals in a way that works for all the citizens and businesses in New Jersey.”

The EMP’s executive summary says the state’s long-term energy goals include: an 80% reduction in economy-wide greenhouse gas (GHG) emissions by 2050, as mandated by the Global Warming Response Act (GWRA), and the target of 100% clean electricity sales by 2035, as established in Executive Order No. 315.

The 2024 EMP includes an accounting of progress made on the state’s carbon reduction strategies, a summary of stakeholder feedback collected throughout the EMP process, and an updated Integrated Energy Plan (IEP) based on economy-wide energy system modeling of New Jersey’s pathways for meeting near and long-term climate and energy goals.

The EMP strategies include:

• Accelerating Clean Energy Deployment
• Expanding Decarbonization and Efficiency Programs
• Ensuring a Reliable and Modern Grid
• Staying the Course on Transportation Electrification
• Ensuring Energy Affordability and Environmental Fairness
• Enhancing Regional Coordination and Advocacy
• Driving Innovation and Workforce Development

To view the 2024 EMP, click here.

To view the 2019 EMP, click here.

The report was prepared by a consulting team from Energy and Environmental Economics (E3), ILLUME Advising, and BW Research.

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