Edison Innovation Clean Energy Manufacturing Fund - Grants and Loans (New Jersey)

This is the approved revision of this page, as well as being the most recent.
Jump to: navigation, search

Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place New Jersey

Name Edison Innovation Clean Energy Manufacturing Fund - Grants and Loans
Incentive Type Industry Recruitment/Support
Applicable Sector Commercial, Industrial
Eligible Technologies Lighting, Furnaces, Boilers, Central Air conditioners, Energy Mgmt. Systems/Building Controls, Solar Thermal Electric, Photovoltaics, Landfill Gas, Wind, Biomass, Geothermal Electric, Anaerobic Digestion, Tidal Energy, Wave Energy, Fuel Cells using Renewable Fuels
Active Incentive Yes

Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs
Amount Varies







Start Date 2011-05-23
Expiration Date Applications accepted on a rolling basis

Funding Source New Jersey Societal Benefits Charge (public benefits fund)




Maximum Incentive Total (grants and loans): 3.3 million

Grants: 300,000
Loans: 3 million





Program Budget $2 million (2012 funding)




Terms 50% cost share required; Loans at 2% interest for up to 10 years with three year deferral of principal repayment
Program Administrator New Jersey Economic Development Authority
Website http://www.njeda.com/web/Aspx_pg/Templates/Npic_Text.aspx?Doc_Id=1085&menuid=1358&topid=722&levelid=5&midid=1357
Date added to DSIRE 2009-02-11
Last DSIRE Review 2014-09-29



References DSIREDatabase of State Incentives for Renewables and Efficiency[1]


Summary

The Edison Innovation Clean Energy Manufacturing Fund (CEMF) is intended to provide assistance for the manufacturing of energy efficient and renewable energy products that will assist Class I renewable energy and energy efficiency technologies in becoming competitive with traditional sources of electric generation. The CEMF is administered by the New Jersey Economic Development Authority (EDA) and is structured to provide grants (Tranche I) and loans (Tranche II) for certain business development activities that further these goals within the State of New Jersey. Applicants may apply for both tranches together or separately apply for Tranche II funds, but Tranche I applicants must also apply for Tranche II funding. The program first opened early 2009, but the most recent solicitation was issued in May 2011. The program is currently accepting applications on an open, rolling basis.


The total amount of available funding is capped at a maximum of $3.3 million per project. A minimum 50% cash match of total project costs is required to be from non-state derived matching funds. This incentive program is directed at commercial manufacturing; prototype development projects are not eligible. Further details of each Tranche are provided below:

Project Assessment and Design Grants (Tranche I)
The CEMF will provide a grant of up to $300,000 for costs associated with site assessment, procurement, and design of an eligible facility. Qualified Tranche I costs may include identifying and securing a project site and obtaining the necessary permits and regulatory approvals. The grant may not exceed 10% of the total amount of funding requested for the project as a whole. Twenty percent of the grant is available up front at the time of closing.

Project Construction and Operation Loan (Tranche II)
A maximum $3 million is available in the form of a ten-year loan at an interest rate of 2% to support site improvements, equipment purchases, facility construction and completion. Repayments begin at the start of the fourth year following the close of the loan. Projects that meet certain milestones may be eligible to convert up to $1 million of the loan into a performance grant.

The CEMF is funded by the state societal benefits charge (SBC), thus proposed projects in municipalities that do not pay into the SBC will not be eligible for funding under this program. The 2012 Board of Public Utilities Clean Energy Budget Order specifies new 2012 funding of $2 million for the program. The overall program budget for 2012 is somewhat larger because it contains unused funds from prior years. In order to be considered for funding, applicants must submit an Eligibility Intake Form. For additional details please see the program web site, which contains the program solicitation, application information, and FAQs.


Incentive Contact

Contact Name Edison Innovation Clean Energy Manufacturing Fund
Department New Jersey Economic Development Authority
Division CEMF Application
Address 36 West State Street
Address 2 P.O. Box 990
Place Trenton, New Jersey
Zip/Postal Code 08625
Phone (866) 534-7789


Email EdisonCEMF@njeda.com
Website http://www.njeda.com/
     
     


  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency"