First and foremost, the plan calls for New Jersey to reduce energy consumption 20% by 2020. While this may sound like a tall order, the state plans to offer incentives, rebates and other initiatives that will encourage investment in renewable energy sources such as wind and solar power, with the goal of providing New Jersey with 30% of its energy consumption from renewable sources by 2020.

While Esser said that the state will support offshore drilling, he emphasized that these projects must meet the highest environmental safety standards. Nuclear power is also on the table, but there's still a great deal of research that needs to be done, not to mention sorting out the high cost. "The big push right now," Esser said. "is co-generation, which he hopes will ultimately account for 50% of the state's energy capacity."

The Governor has also proposed the creation of a State Energy Institute to provide additional resources and collaborations for energy research efforts at the state's colleges and universities. Smart grid technology will also serve to improve the efficiency and reliability of the state's current energy infrastructure.

If fully implemented the plan is projected to reduce greenhouse gas emissions in the electricity and heating fuel sectors to 23% below 1990 levels and 33% below projected 2020 levels, as well as stimulate $33 billion in private investment, which will effectively create 20,000 green jobs. According to Esser, consumers will also save big in the form of $30 billion on energy costs between 2010 and 2020.

Still, Esser noted, this plan is not the answer to New Jersey's long-term energy goal. "This plan buys us more time while we wait for the science community to develop new technologies that are both energy efficient and cost-effective."

Esser and Goldenberg

Yet another part of the energy plan proposes assessing 300,000 buildings per year, which Goldenberg noted works out to 1,000 buildings per day "I don't think the state is prepared for this," he said, adding that currently only one building in the state satisfies the proposed net zero requirement, which essentially means that buildings should be autonomous from the energy grid supply; this is achieved typically by producing energy on-site.

According to Goldenberg, a recent Northeast Energy Efficiency Partnership study found that in order to meet a 30% reduction in energy use by 2020, the following would be required:

• An average of 50% reduction in 70% of existing large commercial tenant space;
• A 25% reduction, from code, in all new and renovated office space;
• A 20% average savings from existing retail chains and franchises;
• A 40% savings from new chains and franchises, and;
• A 35% savings in three-quarters of data centers.

BOMA NJ has also expressed reservations. "While the energy master plan contains several promising initiatives, it does not take their costs into account," Connelly said during the panel discussion. He added that BOMA needs to take bold steps to demonstrate to policy makers that in the private sector voluntary efforts aimed at energy conservation and carbon reductions are working without mandates. "Requirements that are jammed down our throats will only hurt," he said.

Dissension aside, to date, New Jersey has approved $12 million worth of rebates from the Board of Public Utilities to support the development of three offshore wind projects, which are slated for completion by the end of 2012.

The BPU has also pitched in, approving $1.2 billion in incentives for energy efficiency and renewable energy projects over the next four years. According to Esser, this investment will save New Jersey homeowners and businesses close to $10.2 billion in energy and environmental costs and 2.5-million metric tons of avoided CO2 emissions.

Despite the difference of opinions, the one issue everyone could agree on was the desire for an energy program that reduces carbon emissions while also benefiting businesses. But until new technologies are developed the debate is likely to continue.