Clean Energy Financing and Assistance Programs
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The New Jersey Board of Public Utilities and the New Jersey Economic Development Authority (EDA) have combined their technical and financing expertise to make funding available through New Jersey's Clean Energy Program for energy efficiency and renewable energy projects in New Jersey. This initiative is designed to make it more affordable and cost effective for businesses to make investments in renewable energy systems and energy efficient equipment. This programs is designed to encourage businesses to invest in the best-performing equipment, which will realize substantial energy cost savings as well as environmental benefits through the use of the cleanest forms of energy.
Grants and financing are available to encourage the development of large-scale renewable energy facilities larger than 1 MW. Renewable energy includes the use of: wind, solar power (photovoltaics), landfill gas, digester gas and methane from sustainable biomass to generate clean electricity. Grants are available for up to 20% of eligible project development costs. The EDA may arrange long-term, low-interest rate bonds or loans to provide affordable financing for the balance of project costs. Borrowers are required to make a minimum 10% equity contribution to the project. (GRANT PROGRAM IS UNDER REVIEW. Proposals are not being accepted at this time. Check back later for revised solicitation.) For more detailed information on the program and eligibility requirements, please contact a New Jersey’s Clean Energy Program Customer Service Representative at 1-866-NJSMART (1-866-657-6278) or go to New Jersey's Clean Energy Site. |
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