NEW JERSEY UTILITY IN HUGE RE-INVESTMENT IN SUN

It's Official: PSE&G Spending Half A Billion On Solar

Joseph Bebon, May 30, 2013 (Renew Grid)

“…[T]he New Jersey Board of Public Utilities (BPU) officially signed off on Public Service Electric and Gas Co.'s (PSE&G) proposal to invest up to $446 million in new solar installations throughout the state…

“PSE&G plans to lend customers about $200 million over three years to support 97.5 MW of new solar installations under the Solar Loan III program. In addition, the utility will spend $247 million over five years to build 42 MW of solar on brownfields and landfills, as well as 3 MW in pilot projects, under its Solar 4 All program.”

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“According to the BPU, the current Solar 4 All program is in line with Gov. Chris Christie's Energy Master Plan and has already helped build a large amount of New Jersey's 33 MW of solar on underutilized land…

“To help pay for the Solar 4 All extension, the average PSE&G customer will experience a $0.28 rise in his or her annual bill in the next year, with a maximum increase to $4.44 between Oct. 1, 2015, and Sept. 30, 2016. The BPU says rate impacts will lower in the years after…Both local and national solar stakeholders have praised the approval…”

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