Use of funds: Growth capital to advance newly discovered energy efficient, renewable energy or supply chain products that will assist Class I renewable energy or energy efficient technologies in becoming competitive with traditional sources of electric generation.
|Incentive Type:||Industry Recruitment/Support|
|Administrator:||New Jersey Economic Development Authority|
|Eligible Renewable/Other Technologies:||
|Incentive Amount:||Varies; loans from $250,000 - $2 million available|
Maximum Loan: $2 million (1:1 cash match required from non-state grants, deeply subordinated debt or equity)
Performance Grant Conversion (end of loan term): up to 50% of loan amount
Fixed five-year term; interest rates of 2%.
50% loan conversion to a performance grant may occur at the end of the 5 year period.
|Name:||Edison Innovation Green Growth Fund|
|Organization:||New Jersey Economic Development Authority|
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.
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