Clean Energy Financing for Local Schools and Governments (REDO Program) (New Jersey)
Last modified on May 24, 2011.
Financial Incentive Program
|Name||Clean Energy Financing for Local Schools and Governments (REDO Program)|
|Incentive Type||State Loan Program|
|Applicable Sector||Schools, Local Government|
|Eligible Technologies||Lighting, Chillers, Furnaces, Boilers, Heat pumps, Central Air conditioners, Custom/Others pending approval, Photovoltaics, Wind, Biomass, Fuel Cells using Renewable Fuels|
|Energy Category||Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs|
|Amount||Up to full cost of project|
|Start Date||January 2004|
|Terms||3% to 5% interest rate, for varying loan terms|
|Program Administrator||New Jersey Board of Public Utilities|
The New Jersey Board of Public Utilities, in partnership with the New Jersey Economic Development Authority, offers local governments and schools a low-interest, long-term financing program that allows them to combine traditional energy efficiency and renewable energy incentive programs. Financing under this program will cover the entire incremental cost of energy efficiency and renewable energy projects, enabling the governmental entities to finance the projects with no up front capital costs.
The Clean Energy Financing Program can be combined with the New Jersey Clean Energy Program's incentives for a wide range of energy efficient technologies and renewable energy systems. For a listing of the incentives for specific energy efficient technologies, please visit the Smart Start Buildings webpage at www.njsmartstartbuildings.com. For details on the renewable energy rebate program, please visit the website at www.njcep.com.
Visit the program website shown above for a project application.
|Contact Name||Benjamin Scott Hunter|
|Department||New Jersey Board of Public Utilities|
|Division||Renewable Energy Program Administrator, Office of Clean Energy|
|Address||2 Gateway Center|
|Place||Newark, New Jersey|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.