PSE&G Offers Solar Loan Program to Residential Customers
Posted on: Friday, 18 July 2008, 09:01 CDT
The New Jersey-based Public Service Electric and Gas Company has announced that it is offering its solar loan program to residential customers.
The company officially launched the residential program after making a compliance filing with the New Jersey Board of Public Utilities. The program, reportedly the first of its kind in the US, is expected to help homeowners install solar energy systems in their homes, enabling them to take an active part in reducing greenhouse gases.
The residential component of the program follows the successful implementation in April 2008, of a solar investment program for non-residential customers. A total of $105 million in loans is available to Public Service Electric and Gas's (PSE&G) electric customers.
After obtaining agreement from a collaborative stakeholder group on loan documents for the residential customers, PSE&G is ready to begin accepting residential applications.
Under the new program, residential electric customers in single-family homes may qualify for these loans to borrow 40% to 60% of the total cost of a solar installation project, depending upon the efficiency of the solar system. PSE&G would provide the loans directly to customers.
The remainder of the project cost is funded by the customer, who may also take advantage of other financial incentives that may be available such as the federal tax credit.
Source: Datamonitor
Related Articles
- Consumers Energy Launches Program To Help Residential Customers Save Energy and Save Money
- J.D. Power and Associates Reports: Despite Tough Economic Times, Residential Customer Satisfaction With Electric Utilities Increases
- SunRun Partners With SPG Solar to Bring Low-Cost Solar Electricity to More California Homeowners
- University of California, San Diego Selects Borrego Solar to Install a 1.2 Megawatt Solar Electric System As Part of Its Comprehensive Sustainable Energy Program
- Enel Energia Offers Fixed-Price Contracts to Residential Customers
- REC Solar Achieves Milestone: Costco Install Marks 500th Solar Electric System for 2007
- Dominion Retail Offering Low-Cost Electricity to Massachusetts Residential Customers
- WorldWater & Power Corp. Wins $1.9 Million Bid From Liberty Science Center for Two Solar Electric Systems
- Additional $2 Million Available in 2005 for Residential and Commercial Solar Energy Projects; Funding Covers Solar Water Heating
 |
 |
User Comments (0)
RSS Feeds