Wednesday, June 17, 2009

NJ offers funding for energy-efficient projects


"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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