Utility Financing Programs
In July 2008, the New Jersey Board of Public Utilities (NJBPU) directed the four Electric Distribution Companies (EDCs) to develop long term contracting or financing programs for the development of solar energy systems. At that time, the NJBPU approved innovative financing programs at all four of the states electric utilities to support the installation of solar photovoltaic systems that produce clean, renewable electricity for customers' onsite use.
The utility solar financing programs expired in 2011, but on June 01, 2012 the EDCs filed a Notice of Intent to participate in an Extended EDC SREC Program consistent with Staff's recommendations adoped by the NJBPU.
PSE&G's recent announcement is below and information regarding the other EDC financing programs will be coming soon.
PSE&G announced that they will begin accepting applications Tuesday, February 25th for the second solicitation of our Solar Loan III Program. PSE&G will offer loans to qualified commercial and residential customers to support the installation of 97.5MW of solar projects within their electric service territory. Interested parties are encouraged to visit www.pseg.com/solarloan for further information, including the program capacity being made available at this time and the solicitation schedule. Applications will be accepted online through the PSE&G website, starting on the 25th at 10am (EST).
Learn more about financing programs in specific utility areas.
In addition to the program offered by the utilities, the State of New Jersey Green Homes Office offers a MultiFamily Solar Funding Project.