New Jersey Takes a Leadership Position on Solar Power
July 30, 2009 by Justin
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Photo by Mark Lovretin/PSEG
State Regulators in New Jersey on Wednesday approved over $515 million in solar related projects, twice the amount of solar energy currently being produced in the state. As a result of these projects New Jersey will maintain their position as the number 2 state for solar power behind only California.
The total energy produced from these solar projects will be 145 megawatts or enough energy to power approximately 130,000 New Jersey homes. The total amount of solar power in the state of New Jersey will climb to 232 megawatts. According to the Solar Energy Industries Association there were 791 megawatts of solar energy in the United States last year 530 megawatts of which were from California.
Jon Corzine, Governor of New Jersey, has set a goal of providing 30% of the state's energy from renewable sources by 2020.
PSE&G, New Jersey's largest utility, gained approval for the largest project: $515 million in solar panels installed on more than 200,000 utility poles plus solar gardens and rooftop arrays. The project is expected to be completed before the end of 2013.
The project will be funded by rate hikes in the amount of $1.28 per year rising to approximately $4.08 per year by the year 2028.