Clean Energy Financing for Businesses

The N.J. Clean Energy Program offers low-interest loans and loan guarantees to businesses that want to install energy efficient heating, air conditioning and lighting measures or renewable energy devices to lower their energy costs. The intent of the program is for businesses to use loans to pay for the balance of the project, up to $1 million, that was not covered by the Clean Energy Program’s grants or rebates (see N.J. Clean Energy). In order to apply, applicants should have a preliminary audit completed by a participating vendor, a list of which can be found on the N.J. Clean Energy website. After the audit, an applicant submits an application to the N.J. Clean Energy program for pre-approval. An approved application will include improvements for both renewable energy and energy efficiency. After the pre-approval process, the applicant submits the application to the N.J. Economic Development Authority for credit approval.