December 2024 | Edition 1 | |
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Thank you for your interest in New Jersey's clean energy economy. We’re excited to share this inaugural quarterly newsletter which highlights the New Jersey Economic Development Authority's (NJEDA) clean energy programs and products, including funding opportunities, news, and events related to the clean energy sector. Our team is committed to helping New Jersey reach the state’s climate and clean energy goals, and we’ll need your collaboration and support to help get there.
We hope you find this information useful and invite you to share this newsletter with others who might be interested in learning more about clean energy in New Jersey.
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NJ Clean Energy Loans (NJCELs)
NJ CELs is an $80 million co-lending program launched by the NJEDA for small businesses seeking to finance clean energy projects. The program’s funds come from the U.S. Treasury’s State Small Business Credit Initiative (SSBCI).
The NJEDA will lend between $250,000 and $10 million for projects requesting a total loan amount of $500,000 to $20 million.
NJ CELs will unlock capital for small businesses and start-ups, catalyze the deployment of clean energy in New Jersey, and support minority-, woman-, and veteran-owned businesses to participate in the State’s energy transition.
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NJ Clean Energy Company Corner | |
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The NJEDA has closed on a $10 million loan through the New Jersey Clean Energy Loans (NJ CELs) Program to support Solar Landscape, an Asbury Park-based clean energy company. Matched by $10 million from M&T Bank, the funding will help Solar Landscape create 185 jobs and expand community solar projects across the state. These projects, hosted on commercial rooftops, distribute clean energy to underserved communities, offering residents energy savings and environmental benefits. Solar Landscape CEO Shaun Keegan praised the initiative, noting its impact on advancing clean energy and reducing costs for New Jersey residents.
NJ CELs provides loans of $250,000 to $10 million to finance clean energy projects and grow small businesses, including minority-, woman-, and veteran-owned enterprises. NJEDA Chief Executive Officer Tim Sullivan emphasized that the program aligns with Governor Phil Murphy’s vision of a greener Garden State by fostering job creation and sustainable development. Highlighting the collaboration, M&T Bank Senior Vice President Curt Lang stated, “We are thrilled to support this critical initiative expanding clean energy across the state.”
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Garden State C-PACE Program Approved | |
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On October 9, the NJEDA Board approved the Garden State Commercial Property Assessed Clean Energy (C-PACE) Program. Garden State CPACE is a voluntary financing tool which allows qualifying commercial real estate property owners to undertake qualifying energy efficiency, renewable energy, water conservation, and resiliency improvements on their buildings, and repay the investment through an additional charge/assessment similar to their property tax bill.
Municipalities will need to opt-in for commercial applicants to qualify for the program, and a model opt-in ordinance is available on the NJEDA website.
Learn more here: Garden State C-PACE - NJEDA
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Medium/Heavy Duty Vehicles | |
Image Source: Mainspring Energy | |
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In October, the NJ Board of Public Utilities (NJBPU) advanced its Medium and Heavy-Duty EV Charger Make-Ready Incentive Program. This program aims to outline minimum filing requirements for the Medium and Heavy-Duty EV Charger Make-Ready Incentive Program. Utilities must submit their filings for NJBPU approval by February 27th, 2025. It is expected that the BPU-approved programs will be available for businesses to request support through their utilities beginning in early 2026.
This program aims to accelerate commercial vehicle electrification through incentives, including up to 100% funding for publicly accessible and public-serving fleets and 50% for private fleets in overburdened communities or near federal freight corridors. Managed charging is encouraged for all fleets and required for private fleets. Bonuses are offered for converting fleets, small businesses, and serving overburdened areas. Utilities must provide demand charge solutions, managed EV rates, and grid capacity maps updated semiannually. The program also encourages technical assistance for fleets and innovative solutions like vehicle-to-grid technology and load-modifying approaches to streamline electrification timelines.
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In November 2024, NJBPU released a straw proposal for the New Jersey Energy Storage Incentive Program (NJ SIP). The proposal aims to achieve the state's ambitious target of 2,000 megawatts (MW) of installed energy storage by 2030. The NJ SIP will create two energy storage segments: Front-of-Meter and Behind-the-Meter incentives, modeled after the Successor Solar Incentive Program. The proposal focuses on incentivizing stand-alone grid supply energy storage projects and solar-plus-storage projects ineligible for the Competitive Solar Incentive (CSI) program. The proposal emphasizes attracting low-cost private capital for storage projects interconnected to the transmission or distribution system and ensuring consistency with New Jersey's competitive electricity markets while also supporting overburdened communities. For more details, visit BPU's site here. The deadline for comments is December 18, 2024 at 5 pm EST.
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New Opportunity Funds Non-Profit Educational Organizations’ Efforts to Grow a Diverse Clean Energy Workforce
The Clean Energy Careers for All program will award nearly $3 million for workforce development programs that promote STEM pathways to clean energy careers among diverse groups.
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NJDEP: NJ Fleet Advisor
Fleet Electrification Assistance
Are you a private, non-profit, or public fleet operating in New Jersey interested in learning how to transition your vehicles to zero-emission? Apply today to New Jersey Fleet Advisor to receive a FREE personalized Fleet
Electrification Roadmap!
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US EPA: Clean School Bus Program
The Bipartisan Infrastructure Deal provides $5 billion in funding for a Clean School Bus Program. Provides information on technologies, resources, benefits, educational events and funding opportunities.
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Featured Event: Offshore Wind Supplier Forum | |
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As part of the ongoing collaboration between New York and New Jersey, the NJEDA and New York State Energy Research and Development Authority (NYSERDA) co-hosted the “New York & New Jersey Offshore Wind Supplier Forum,” in Atlantic City on Monday, October 28, 2024. The forum connected local businesses with developers and other contracted suppliers to explore opportunities in offshore wind, helping New Jersey and New York businesses to build the knowledge and relationships needed for success in the growing industry.
The event brought together more than 350 registered attendees from the regional offshore wind industry eager to supply products and services for projects along the East Coast.
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NY/NJ Offshore Wind Supplier Forum Recap | |
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Interested in learning how your business can get involved with the New Jersey offshore wind supply chain? The New Jersey Offshore Wind Supply Chain Registry allows companies to publicly indicate their interest and ability to supply components and services for US East Coast offshore wind projects. Join today, over 950 companies already have!
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NJIT Offshore Wind Bootcamp
December 9 and 10
Agile Strategy Lab, New Jersey Institute of Technology, Newark, NJ
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Murphy Administration Announces Approval of Triennium 2 Energy Efficiency Programs | The New Jersey Board of Public Utilities (NJBPU) today announced the approval of Triennium 2 (T2) energy efficiency programs proposed by the state's seven electric and gas utilities. | | | |
NJ's 1st offshore wind project taps Riggs Distler for substation expansion | |
Atlantic Shores Offshore Wind said the Cherry Hill-based company will lead the Cardiff Substation program for Atlantic Shores Project 1.
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BOEM Completes Environmental Review of Wind Lease Areas Offshore New York and New Jersey | In support of the Biden-Harris administration's goal of deploying 30 gigawatts (GW) of offshore wind energy capacity by 2030, the Bureau of Ocean Energy Management (BOEM) has completed an environmental review to assess potential wind development activities within six wind lease areas covering over 488,000 acres offshore New York and New Jersey. | | | |
Calstart launches new EV fleet advisor program in New Jersey | |
The free technical assistance program aims to help medium- and heavy-duty fleets plan for electrification in support of sustainability goals.
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Murphy Administration Jumpstarts Electric School Buses by Announcing $15 Million First-Round Funding for Bus Purchases | In celebration of National Drive Electric Week, Environmental Protection Commissioner Shawn M. LaTourette today announced the first-round award of $15 million in grants for local purchases of 48 electric school buses in New Jersey, marking the state's first comprehensive commitment of funding for these zero-emission buses. | | | |
Governor Murphy Announces New Incentive to Support Solar Energy Development, Information Hub to Aid Municipalities and Developers with Solar Projects | |
Governor Phil Murphy today announced the launch of a new website that will serve as a one-stop shop to guide municipalities and solar developers as they plan, fund, and complete solar plus landfill capping projects.
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NJEDA Expands NJ Cool Eligibility Requirements - NJEDA | |
The New Jersey Economic Development Authority (NJEDA) Board has expanded eligibility requirements for the NJ Cool Program, which provides grants to building owners and tenants undertaking retrofit construction projects that reduce greenhouse gas emissions from existing buildings.
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Ocean Power Technologies gets $1.1M preliminary award from EDA's NOL program | Ocean Power Technologies, a Monroe Township-based company that bills itself as a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, recently announced it has been given a $1.1 million preliminary award under the N.J. Economic Development Authority's 2024 Technology Business Tax Certificate Transfer program. | | | |
Murphy and other blue state governors pressure PJM to hold down power prices | |
New Jersey and other blue states are pushing the regional grid operator to take swift action to curb skyrocketing energy prices.
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Creamer-Jingoli wins Atlantic Shores 1 early works contract | |
Creamer-Jingoli will provide engineering and design services for the state's first offshore wind project.
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EDA's C-PACE program getting positive return from engineering and environmental community | |
So how does an updated clean energy financing mechanism get received by a local engineering and environmental consulting firm's resident expert on clean energy? Positively. ... At least that's the take of Gail Lalla, a client manager at Middletown-based T&M Associates.
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NJBPU Announces Adoption of Minimum Filing Requirements for Medium-and-Heavy-Duty Electric Vehicles | The New Jersey Board of Public Utilities (NJBPU) announced on Wednesday the adoption of minimum filing requirements (MFRs) that direct the state's investor-owned electric distribution companies (EDCs) to propose programs to expand charging access for medium-and-heavy-duty (MHD) electric vehicles (EVs) and fleets. | | | |
Expert insight: NJBPU pilot brings solar production to active farms | |
Genova Burns energy law professional and counsel Kenneth Sheehan provides details on the new "agrivoltaics" program, open to unpreserved farmland in active agriculture or horticulture use.
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Keeping PACE: EDA programs making it easier to fund green energy efforts | Kathleen Coviello has spent enough time in spearheading roles at the New Jersey Economic Development Authority to say without hesitation: She has dealt with a lot of the state's businesses, and a lot of them have the will and desire to help advance the state's clean energy goals. | | | |
NJEDA and NYSERDA Co-Host NJ/NY Offshore Wind Supplier Forum: Empowering Regional Opportunities for Growth and Collaboration - NJEDA | As part of the ongoing collaboration between New York and New Jersey, the New Jersey Economic Development Authority (NJEDA) and New York State Energy Research and Development Authority (NYSERDA) co-hosted the "New York & New Jersey Offshore Wind Supplier Forum," in Atlantic City on Monday. | | | |
GOTrenton! All-Electric Micro-Transit Program Celebrates One Year: 30,000 Riders Served and 20 Metric Tons of GHG Saved | |
GOTrenton! was born out of community need. "Several years ago, in partnership with the City of Trenton and several community partners, we recognized a problem - a lack of affordable and reliable transportation options within the city and to areas not serviced by traditional transit models.
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New Jersey Economic Development Authority
36 West State Street
P.O. Box 990
Trenton, NJ 08625-0990
© New Jersey Economic Development Authority
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