Clean Energy Financing and Assistance Programs

The New Jersey Board of Public Utilities and the New Jersey Economic Development Authority (EDA) are combining their technical and financing expertise to make funding available through New Jersey's Clean Energy Program (NJCEP) 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. These additional programs will 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.

Renewable Energy Project Grants and Financing. 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.

Renewable Energy Business Venture Assistance. Grants of up to $500,000 are offered to enable renewable energy companies to bring their products and technologies to market. The program is designed to provide seed funding and commercialization assistance to encourage industry and technology development in New Jersey. Companies receiving recoverable grants will be required to repay principal as they begin to generate revenues. There will be a 25% matching requirement. GRANT PROGRAM IS UNDER REVIEW AND NOW CLOSED. Proposals are not being accepted at this time. Check back later for revised program information.