Client Alert Newsletter

New Jersey Awarded $29.5 Million in Federal Stimulus State Energy Program Funding

On August 25, 2009, the U.S. Department of Energy ("DOE") awarded the State of New Jersey $29.5 million in federal stimulus State Energy Program ("SEP") funding, which will be used by New Jersey to fund: (1) a competitive grant program administered by the New Jersey Economic Development Authority for renewable energy and energy efficiency projects; (2) a new Board of Public Utilities program that will invest in renewable energy and energy efficiency projects at state-owned buildings and public colleges and universities; (3) grant and loan programs administered by the New Jersey Home Mortgage Finance Agency ("HMFA") for solar energy projects on HMFA income-qualified multifamily buildings and energy efficiency upgrades at single-family and multi-family homes; (4) new and existing programs from New Jersey's Office of Clean Energy to increase New Jersey’s investment in energy efficiency; and, (5) programs that will be administered by New Jersey's Office of Energy Savings to expand auditing and investments in state-owned buildings.

New Jersey has now received approximately 50 percent of its federal stimulus SEP funding and is expected to receive an additional $37 million from DOE once the additional SEP program milestones are achieved.