State may slash clean energy fund almost by half
The state is considering cutting its funding for new energy efficiency and renewable energy projects almost in half, a consequence of the Legislature’s and Christie administration’s decision to divert hundreds of millions of dollars from New Jersey’s clean energy program.
In a draft proposal circulated by the New Jersey Board of Public Utilities last week, the budget for the clean energy program would allocate $339 million in new spending, a sharp reduction from the $651 million proposed by the agency last December.
The cuts are a result of the diversion of money raised from gas and electric customers to help homeowners and businesses find ways to reduce their energy use, and promote the development of cleaner sources of producing electricity, primarily solar and wind. (Johnson, NJ Spotlight)
