This is an excerpt from EERE Network News, a weekly electronic newsletter.

January 05, 2005

New Jersey Commits $745 Million to Efficiency, Renewable Energy

The New Jersey Board of Public Utilities (NJBPU) approved $745 million in funding in late December to support the state's Clean Energy Program. The funds will be allocated over the next four years, increasing from $140 million in 2005 to $235 million in 2008, an 89 percent increase above the 2004 funding level of $124 million. Funding for energy efficiency programs will grow 42 percent, from $93 million in 2004 to $133 million in 2008, while renewable energy funding will more than triple, from $31 million in 2004 to $102 million in 2008. The funds will help the state achieve its goal of drawing on 300 megawatts of renewable electric generation capacity by the end of 2008, with 90 megawatts consisting of solar photovoltaic power systems. Funding for the Clean Energy Program comes from electric and gas customers through a charge added to their utility bills. See the NJBPU press release and the board's funding order (PDF 3.8 MB), which includes a budget schedule on page 29. Download Acrobat Reader.