If you own a business or live in PSE&G service territory in New Jersey and have been thinking about installing solar, but have not been sure how to finance such a large investment, now may be the time for you to move forward. The utility's ultra-popular solar loan program just received the go-ahead from the New Jersey Board of Public Utilities (BPU) to expand to the tune of $143 million. This additional capital should fund up to 51 MW of additional solar capacity for what has turned out to be one of the country's fastest-growing solar markets.
It's hard to know what to focus on when the last several days have seen so much hustle and bustle in the solar world. But the biggest news: New Jersey is accepting applications for solar rebates. Again. Why is this shocking? Well, you might remember how the CORE program sort of, er, ran out of money partway through last year's funding cycle. After this crisis, the state decided to implement a different incentive scheme: namely, SREC trading for both residential and commercial solar customers. If you entered into that scheme, you were not eligible for any cash rebate--it was SREC only.