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

September 8, 2009
Client Alert Newsletter September 2009

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.