A New Jersey photo voltaic venture by Photo voltaic Panorama.
The New Jersey Financial Growth Authority (NJEDA) not too long ago accepted a brand new program aimed to cut back greenhouse fuel emissions and vitality prices. The Reducing Emissions through Retrofits, Optimization, Fuel-Switching and Innovative Technologies (RETROFIT NJ) Grant Program will assist multi-pronged, large-scale retrofit initiatives that allow holistic vitality enhancements, together with photo voltaic + storage, for buildings, campuses and multi-building amenities. The brand new funding expands upon the efforts of the present NJ Cool program.
“New Jersey is main the nation in constructing a cleaner and extra resilient future,” mentioned Gov. Phil Murphy. “The RETROFIT NJ Grant Program strengthens our dedication to decreasing emissions, cuts vitality prices, and drives innovation throughout our state. By investing in retrofit initiatives, we’re not solely defending the environment, but additionally creating good-paying jobs and reducing prices for households and companies.”
RETROFIT NJ will provide grant awards between $2.5 million and $12.5 million to industrial, industrial and institutional constructing house owners enterprise retrofit initiatives with a minimal whole venture value of $5 million. Eligible initiatives should embody at the least three clear vitality or electrification parts, comparable to photo voltaic, vitality storage, electrification of heating, refrigerant substitute and vitality effectivity upgrades. RETROFIT NJ can even present assist for initiatives implementing Thermal Vitality Networks (TENs), an rising expertise that may considerably cut back emissions throughout a number of buildings. This program is the biggest authorities building grant program obtainable for TENs within the nation with as much as $12.5 million obtainable per venture, demonstrating New Jersey’s sturdy management in advancing cutting-edge expertise options to local weather change.
“New Jersey is dedicated to combating local weather change by way of impactful applications that goal to cut back our carbon footprint and promote a greener state,” mentioned NJEDA chief financial transformation officer Kathleen Coviello. “With in the present day’s approval of the RETROFIT NJ program, we’re increasing entry to energy-efficient upgrades, strengthening our communities and financial system, whereas serving to companies cut back vitality use and get monetary savings.”
At the moment, the NJ Cool program offers monetary help to industrial, industrial and institutional constructing house owners and tenants enterprise retrofit building initiatives that cut back working greenhouse fuel emissions from present buildings in State-designated Overburdened Communities (OBCs) and Adjoining Group census blocks.
The RETROFIT NJ program will make the most of $75 million in Regional Greenhouse Gasoline Initiative (RGGI) funds, with 50% of the funding pool designated for functions submitted for initiatives in OBCs and/or for Institutional candidates for a one-year interval. Funding offered by this system will cowl each onerous and delicate venture prices, together with design, engineering, tools, building and commissioning. Non-profit and institutional candidates will obtain as much as 60% reimbursement, whereas for-profit industrial entities are eligible for as much as 50% reimbursement, with a further 5% bonus for all initiatives situated in OBCs. Functions might be accepted on a rolling foundation with phased disbursement.
Functions for RETROFIT NJ are anticipated to open within the first quarter of 2026.
Information merchandise from the NJEDA
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