Whether you are a New Jersey-based company or institution "going green", a manufacturer of clean energy systems or products, or an innovative company developing new, green technology, New Jersey may have financing and incentive programs to help. The following programs are offered in conjunction with the New Jersey Economic Development Authority (EDA):
- Energy Efficiency Revolving Loan Fund (for Pay for Performance participants)
- Edison Innovation Clean Energy Manufacturing Fund (CEMF)
- Edison Innovation Green Growth Fund
- Clean Energy Solutions Large Scale CHP-Fuel Cell Program (LSCHP-FC)
- Clean Energy Solutions ARRA CHP Program
- Clean Energy Solutions Capital Investment Loan/Grant
New Jersey-based commercial, institutional or industrial entities (including 501(c)(3) organizations) that have received an approved energy reduction plan under Pay for Performance may be eligible for supplemental financing through the EE RLF. Also eligible are those entities participation in the Large Energy Users Pilot Program or the stand-alone Combined Heat and Power/Fuel Cell Program with incentives for up to 1MW, offered by New Jersey's Clean Energy Program. The financing, in the form of low-interest loans, can be used to support up to 80% of total eligible project costs, not to exceed $2.5 million or 100% of total eligible project costs from all public state funding sources. Visit the EDA website for details.
The Edison Innovation Clean Energy Manufacturing Fund is administered jointly by the NJBPU and the New Jersey Economic Development Authority. The fund supports the commercialization and development of Class 1 renewable energy and energy efficiency technologies in New Jersey. Eligible technologies include:
- Class I renewable energy, such as photovoltaic, solar, wind energy, renewably fueled fuel cells, wave, tidal, renewably generated hydrogen, sustainable harvested biomass and methane gas from landfills.
- Energy efficiency equipment and technology that reduce electric or natural gas consumption, such as furnaces, boilers and air conditioning systems with higher efficiencies than adopted New Jersey building energy codes or federal or New Jersey appliance standards; as well as lighting systems, including LED lights and energy monitoring and control systems would qualify.
- Other technologies or equipment that can demonstrate their integral nature to the development of Class I renewable energy and energy efficiency technologies, including "balance of system" technologies that produce or support the production of renewable or clean electricity generation.
In January 2009, CEMF was launched to support the commercialization and development of Class 1 renewable energy and energy efficiency technologies in New Jersey. Qualified manufacturing projects in New Jersey may be eligible for up to $3.3 million in grants and low-interest loans through a rolling solicitation. To review the qualification requirements and learn more about the program, please visit EDA website.
The Solicitation, Intake Form, Application and Frequently Asked Questions are available on the EDA website.
The Edison Innovation Green Growth Fund offers loans up to $2 million with a performance grant component to support technology companies with Class 1 renewable energy or energy efficiency products or systems that have achieved "proof of concept" and successful independent beta results, have begun generating commercial revenues, and will receive 1:1 match by time of loan closing. Please see the EDA website for additional information.
The Clean Energy Solutions Large Scale Combined Heat & Power-Fuel Cells Program is a open grant program. Applications will be reviewed on a first-come, first -serve basis. Open to New Jersey-based Government (Federal, State or Local), Commercial, Institutional or Industrial entity (including 501c(3) with a Combined Heat & Power (CHP) or Fuel Cell (FC) project with electric generating capacity of greater than one megawatt.
Grants will be based on the system size and the amount of electricity that the CHP-Fuel Cells project generates. Total Clean Energy Solutions LSCHP-FC Program awards cannot exceed $3 million per project with the maximum percent of project cost capped at 30% for CHP and 45% for Fuel Cell Projects.
Grants to be used for project-specific, fixed asset purchases for new installations and expansions of existing facilities with new equipment.
For more information, visit the EDA website or call 866.534.7789.
The Clean Energy Solutions ARRA CHP Program is an $18 million competitive grant program created to support the development, design and construction of high efficiency commercial, institutional, and industrial entity (including public and non-profit entities) Combined Heat and Power projects in New Jersey, with project-based grants equal to $450 per kW of installed electric generation, up to a maximum of $5 million.
Among the program requirements, projects must have entered into commercial operation after January 1, 2011, demonstrate ability to commence construction by September 30, 2011, and utilize committed project funds by April 30, 2012. Further program details can be found on the EDA website. The EDA reserves the right to modify these requirements.
The EDA offers up to $5 million in interest-free loans and grants to ensure that commercial, industrial, and institutional entities "going green" in New Jersey. Under this program, scoring criteria based on the project's environmental and economic development impact determines the percentage split of loan and grant awarded. Funding can be used to purchase fixed assets, including real estate and equipment, for an end-use energy efficiency project, combined heat and power (CHP or cogen) production facility, or new state-of-the-art efficient electric generation facility, including Class I and Class II renewable Energy. For more information on this program, visit the EDA website or call 866.534.7789.
Should you need further information on any of these programs, please contact the EDA at 866.534.7789.