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):
- Edison Innovation Clean Energy Manufacturing Fund (CEMF)
- Edison Innovation Green Growth Fund
- Clean Energy Solutions Large Scale CHP-Fuel Cell Program
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.
As of July 1, 2013 the Large Scale Combined Heat & Power-Fuel Cell Program will be managed by the Office of Clean Energy. Applications and information can be found here. Any applications submitted to EDA prior to June 30, 2013 will be managed by EDA through completion.
Should you need further information on any of these programs, please contact EDA at 866.534.7789.