Energy Efficiency - August 26, 2021
NJ Small Businesses and Schools to Receive Energy Upgrade Funding
Schools and small businesses in New Jersey will soon have access to funds for efficiency upgrades to HVAC systems and plumbing infrastructure under a new program enacted through a bill signed by Gov. Phil Murphy.
The fund will be administered by the New Jersey Board of Public Utilities (BPU) and is backed by $180 million in American Rescue Plan funds from the FY 2022 Appropriations Act. Of the funds allocated to the program, 75% will go to schools and 25% will go to small businesses, which are specified to be women and minority-owned businesses of approved size and type. Additionally, 75% of the funds will go toward schools and businesses in underserved communities.
“The COVID-19 pandemic exposed an emergent need for the repair or replacement of critical items such as HVAC systems and plumbing systems in schools and small businesses across our state,” Gov. Murphy said in a statement. “With the help of the Biden Administration and our Congressional delegation, as well as our partners in the Legislature, we are able to fund these much needed efforts to repair or replace these systems in the places that need it most. I am proud to sign this legislation that will address a longstanding need in communities in New Jersey.”
The bill requires the BPU to begin to solicit applications for grants by Oct. 1, 2021. Applications should be approved beginning Dec. 1, 2021, subject to the availability of funds.
The grants made under the program will cover 75% of the costs of eligible projects, while grantees will be required to provide the remaining 25%.
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