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New Jersey BPU Gives $2M in Incentives

NEWARK-New Jersey Clean Energy's Pay for Performance program issued checks to two corporations for Combined Heat and Power installations.

By Alyson Grala | Updated on June 03, 2009

NEWARK-The New Jersey Board of Public Utilities has authorized grants of $711,000 to Johnson Matthey Inc., and $800,000 to KPMG LLP, as incentives for their investments in CHP systems, which generate on-site power and recycle waste heat.

“Their CHP installations will provide onsite energy generation and re-use waste heat,” BPU President Jeanne M. Fox explains to GlobeSt.com. “They are highly efficient and environmentally friendly systems that will benefit the company and all New Jersey residents.”

In short, CHP systems benefit New Jersey residents and businesses by reducing greenhouse gas emissions, improving the reliability of the electricity grid and helping to control the cost of power by reducing peak demand, which drives up electricity prices for all the state’s ratepayers. According to Fox, New Jersey’s Clean Energy Program provides a number of incentives for both residents and businesses to reduce peak demand for electricity, use energy more efficiently and protect our finite resources.

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