New Jersey to vote on $447 million for solar projects

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New Jersey’s Board of Public Utilities is set to vote on an ambitious $446 million plan to fund the expansion of PV power production.

The vote, expected on Wednesday, looks likely to approve a plan by state utility Public Service Electric & Gas Co. (PSE&G) that would provide $247 million to extend its Solar4All program, which aims to develop PV installations on unused landfills and abandoned industrial sites, through 2016. The Solar4All project comprises 42 MW of solar installations on landfills and former industrial sites as well as a further 3 MW of smaller projects.

In addition, PSE&G would be allowed to spend $199 million to continue a loan program to support 97.5 MW of solar projects through 2017.

If approved, the plan is likely to go into effect immediately.

With 415 MW of annual installed PV capacity, New Jersey ranked third last year among the top three solar producing states behind California and Arizona. New Jersey currently boasts more than 20,000 installed solar projects throughout the state.