The N.J. Clean Energy Program offers low-interest loans and loan guarantees to businesses that want to install energy efficient heating, air conditioning and lighting measures or renewable energy devices to lower their energy costs. The intent of the program is for businesses to use loans to pay for the balance of the project, up to $1 million, that was not covered by the Clean Energy Programâ€™s grants or rebates (see N.J. Clean Energy). In order to apply, applicants should have a preliminary audit completed by a participating vendor, a list of which can be found on the N.J. Clean Energy website. After the audit, an applicant submits an application to the N.J. Clean Energy program for pre-approval. An approved application will include improvements for both renewable energy and energy efficiency. After the pre-approval process, the applicant submits the application to the N.J. Economic Development Authority for credit approval.
|Incentive Type:||Loan Program|
|Administrator:||State of New Jersey Board of Public Utilities|
|Eligible Renewable/Other Technologies:||
|Maximum Loan:||$1 million|
|Loan Term:||3% interest rate on 25% of bank loan up to $500,000; loan guarantee on 30% of bank loan up to $500,000|
|Organization:||State of New Jersey Board of Public Utilities|
Via 8th Floor Receptionist
Trenton NJ 07102
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
Copyright © 2023 EnergyBot • All rights reserved.
1601 Bryan St Suite 900, Dallas, TX 75201