Descripción

According to the 2008 Renewable Energy Program Plan, this incentive has been discontinued. Money budgeted for the 2008 program year is earmarked for unresolved committments made during previous years. It is unclear whether the program will be reactivated in the future.

New Jersey’s Renewable Energy Business Venture Assistance Program (REBVAP) provides recoverable grants for the development of businesses, technologies, service and market infrastructure in support of the state’s renewable-energy industry. Eligible technologies include photovoltaics (PV), wind energy, renewably-fueled fuel cells, wave energy, tidal energy, renewably-generated hydrogen, sustainably-harvested biomass, landfill gas and other technologies that can demonstrate their integral nature to the development of renewable-energy technologies, such as “Balance of System” technologies.* The program budget is approximately $5 million; individual awards range from $50,000 to $500,000. There is a 25% cost-share requirement. Grants to fund demonstration projects had previously been funded by this program, but applications have not been accepted since December 30, 2005.

The recoverable grant program is intended for applicants with commercialization projects for renewable-energy products, services or systems. The recoverable grant program is designed to foster renewable energy businesses in New Jersey via seed capital for dynamic state-based expansion of this industry. These funds will be competitively awarded with provisions made for repayment. Companies receiving recoverable grants will be required to repay principal as they begin to generate revenues. Applications for the recoverable grant program will be evaluated on an ongoing basis, with no fixed deadline, throughout 2006 or until all funds are committed.

Eligibility is limited to renewable-energy companies primarily located in New Jersey, independently operated, and with not more than 500 employees. For more information, see the October 2005 REBVAP solicitation. Contact Ronald Jackson of the BPU with questions regarding the program or solicitation.

* “Balance of Systems” is defined in the solicitation as: “A catch-all phrase referring to the remainder of the components of clean energy systems other than the prime electricity generator. With a solar photovoltaic system for instance, balance of systems refers to equipment such as the inverter, disconnects, and power conditioning devices, other than the photovoltaic panels.