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New Jersey Investing $447 Million In New Solar Power Initiatives

Solar panels New Jersey

In recent years, New Jersey has made a distinct mark in the United States solar industry. The state is about to take an even bigger step with a new $447 million solar power initiative, which includes incentives for citizens who want to add solar panels to their home, and funding for land to house solar farms.

Lead by Public Service Electric and Gas, the program will use $247 million to expand solar farms throughout New Jersey, utilizing landfills and brownfields to house solar farms, instead of unused land. The farms will pump electricity right into the grid and charge just like any other utility service.

$200 million of the funds will go toward loans for businesses and homeowners who want to install solar arrays on their property. It will cover the initial material costs that frequently deter homeowners from making the investment, which can cost as much as $40,000.

All of this combined will not only give New Jersey an even bigger bump in the solar industry, but could well serve as an example for other states looking to invest more in clean energy. See? New Jersey isn’t only about fake tans and reality TV after all.

Image CC licensed by Kimco Realty: Solar installation in New Jersey


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