"Businesses that invest in energy-efficient projects; combined heat and power, or cogeneration, production facilities; select renewable energy sources; or efficient electric-generation facilities will now have access to interest-free loans and grants of up to $5 million, according to a new program the
state’s Economic Development Authority launched today."
That welcome news for New Jersey business owners was reported by Shankar P. in yesterday's NJBIZ.
Commercial, industrial and institutional customers would get 10-year loan terms under the Clean Energy Solutions Capital Investment (CESCI) Loan/Grant program to fund the purchase of fixed assets, including real estate or equipment, according to EDA.
Details on the new program are still sketchy but, in a news release, the EDA recommends that businesses visit the authority's web site (www.njeda.com) in the coming weeks for:
"more information on upcoming products, including a new performance-based grant program to assist combined heat and power facilities to complement the CESCI program, which will be offered in partnership with the Board of Public Utilities."
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5 comments:
Frank,
we are building an eco-arts incubator here in trenton nj
Taking a dilapidated industrial building and turning it into a resource for the community.
we are having a party to expose the neglect and raise awareness this Sunday noon- 4pm
at 33 clark street
under the Manex water tower
TrentonAtelier.com
Frank - you need to tell readers about the source of funds for this program.
The money for these corporate subsidies comes from electric ratepayers - you ane me!.
This was part of the Christmans tree graft that got included in the Regional Greenhouse Gas Initiaitve legislation. Scroll way down in the Per EDA release to find:
"The loans and grants offered through CESCI are capitalized through the Regional Greenhouse Gas Initiative’s Global Warming Solutions Fund, in partnership with the DEP."
Instead of that money going to energy efficiency and renewables like wind and solar, it goes to corporate polluters, including oil refineries!
This is why the details of the program are sketchy!. I wrote about this at the time - just Google "Bill Wolfe" and "RGGI" for all the ugly details.
Wolfe
Bill-
You are correct. The program is being funded with RGGI money. That fact is clearly mentioned both in the NJBIZ story (paragraph four) and in the NJEDA news release.
Editor
Frank - but NJBIZ doesn't call it for what it is - a polluters' subsidy by ratepayers. As I noted, the RGGI source of funding is BURIED in the EDA release. This is one of the issues that spurred the enviro's to OPPOSE the RGGI bill, so the political history I bring to light is important.
Did you see DEP's release today?
Bill -
I think NJBIZ was just reporting the facts.
They're leaving the spin ("polluters' subsidy")
to you.
Editor
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