NJBPU to receive $156M to bolster solar energy in the state – ROI-NJ.com

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The U.S. Environmental Protection Agency recently announced it will expand solar energy access in New Jersey. The New Jersey Board of Public Utilities will receive $156.12 million from the Solar for All Program to deploy solar energy in low-income and disadvantaged households. The award is expected to fund solar projects for tens of thousands of households in the state.

The funding comes from the Greenhouse Gas Reduction Fund, which was created in the Inflation Reduction Act that U.S. Rep. Frank Pallone Jr. (D-6th Dist.), helped author as chairman of the Energy and Commerce Committee last Congress.

“Today’s announcement is a huge step forward in the transition to a clean economy. These investments will help ensure New Jersey is ready to do our part to tackle the challenges of the climate crisis head on. I fought to include significant funding for investments in renewable energy so that we can empower Americans with new, good-paying jobs, lower energy costs and access to clean energy. The Solar for All program is a shining example of those efforts,” Pallone said. “I’m proud that our state is leading the way forward toward a clean, low-carbon future and proving that we don’t have to choose between growing our economy and fighting climate change.”

New Jersey’s Board of Public Utilities is one of 60 selectees nationwide that will receive a total of $7 billion in funding through the Solar for All grant competition to deliver residential solar projects to over 900,000 households across the country. This $7 billion investment will generate over $350 million in annual savings on electric bills for overburdened households. The program will reduce 30 million metric tons of carbon dioxide equivalent emissions cumulatively and unlock over 4 gigawatts of solar energy capacity for low-income communities over five years. Solar and distributed energy resources help improve electric grid reliability and climate resilience, which is especially important in disadvantaged communities that have long been underserved.

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