August 26, 2002—The New Jersey Board of Public Utilities has awarded grants to four companies that will develop renewable energy in New Jersey as part of the board’s Grid Supply Renewable Energy Program. A fifth company received a developmental grant. The grants total $11.3 million for the first year of the program.
The projects will involve wind energy systems, photovoltaic roof installations, and a landfill gas system.
The winning proposals were the first in what the board envisions to be an ongoing process of growth and development of a more comprehensive program, able to address the needs of various renewable technologies and remove barriers against their development.
Funding for these projects is in the form of production credits for completed projects on a cents per kilowatt-hour basis for a maximum period of five years and may include limited grants for design, permitting, or construction up to a maximum of 10 percent.
For more information, contact the New Jersey Board of Public Utilities.
