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PSE&G To Launch $105M Solar Program

NEWARK, NJ-With BPU approval in hand, the state's largest utility will begin making loans to finance solar installations.

By Eric Peterson | Updated on April 09, 2008

NEWARK, NJ-Public Service Electric & Gas yesterday received BPU approval to launch a solar pilot program to fund the installation of solar systems in businesses, government facilities and homes within the utility’s service area. Altogether, the state’s largest utility has set aside $105 million for the program.

“Now that the Board has approved our proposal, we will move as quickly as possible to begin offering solar loans to developers and customers,” says Ralph LaRossa, president and COO of PSE&G. “We welcome this opportunity to play a strong role in meeting the state’s renewable and conservation goals, and reduce carbon emissions.”

As put forth by the state’s Energy Master Plan, and by BPU’s renewable portfolio standard, the goal is to meet 20% of New Jersey’s energy needs with renewable energy by 2020. PSE&G applied to the BPU for approval of the new plan a year ago.

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