PSE&G cleared for additional NJ solar projects

AP News
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Posted: Nov 11, 2009 10:51 AM

New Jersey's largest utility has received permission from state regulators to finance another 51 megawatts of solar power _ enough energy for more than 45,000 homes.

The Garden State is second only to California, with 100 megawatts of installed solar generating capacity.

Tuesday's decision means Public Service Electric and Gas Co. can lend another $143 million to its customers to finance solar energy systems on homes, businesses and municipal government buildings.

The solar loan program has received applications for projects worth $105 million since it began in April 2008. Those earlier projects will be capable of generating 30 megawatts of solar power when they're all completed.

PSE&G is a subsidiary of Public Service Enterprise Group Inc.