April 29, 2014
Public Service Electric and Gas Company (PSE&G) ranked seventh among utilities for the amount of solar capacity added in its electric service area in 2013 and now ranks fifth for total solar capacity according to the Solar Electric Power Association’s (SEPA) annual Utility Solar Rankings. This is the seventh consecutive year that PSE&G has been among the top 10 in the industry association’s report, which tracks how well utilities are integrating solar into their service territories
“The SEPA report once again shows that support for solar energy is alive and well in the Garden State,” said Joe Forline, vice president – customer solutions, PSE&G. “Smart public policy that is supportive of solar development coupled with programs like our Solar Loan and Solar 4 All efforts are helping to drive demand for renewable projects while also creating jobs and spurring economic development in New Jersey.”
According to SEPA, 103 megawatts-ac of solar capacity were installed in PSE&G’s service area during 2013. PSE&G’s Solar 4 All™ and Solar Loan programs built or helped finance about 14 megawatts-ac of solar capacity in 2013, or approximately 13 percent of the total. PSE&G electric customers installed the remaining solar capacity independently and interconnected it to the PSE&G electric grid. Of the 547-megawatt-ac cumulative total, PSE&G has either built or helped finance just over 127 megawatts-ac through the Solar 4 All and Solar Loan programs since 2008.
“We are thrilled to see milestones surpassed and barriers broken from coast to coast,” said Julia Hamm, president and CEO of SEPA. “It’s truly inspiring to see utility partners and their consumer communities rally around implementing solar programs that are changing the nature of our national energy portfolio.”
PSE&G’s innovative Solar 4 All and Solar Loan programs are helping to make New Jersey a national leader in solar energy. Solar 4 All will have 125 megawatts-dc of solar power in service by 2016 using large-scale centralized solar installations on roofs and land, including reclaimed brownfield and landfields, as well as pole-attached solar units in the more than 300 towns in PSE&G’s electric service territory. Solar 4 All currently has 80 megawatts-dc of solar capacity in service which is providing enough electricity to power about 13,000 average size home annually.
The Solar Loan program will help finance 177 megawatts-dc of qualified residential and non-residential solar projects in PSE&G electric service territory. The loan program helps to remove the financial barriers to solar installations by providing a ready source of financing for about 50 percent of the project cost and allows customers to use the solar credits (SRECs) that the solar systems generate to repay the loan. The Solar Loan Program has already financed the construction of 79 megawatts-dc of solar capacity.
For more information on the Solar 4 All and Solar Loan programs, visit www.pseg.com/solar.
Public Service Electric and Gas Company (PSE&G) is New Jersey’s oldest and largest regulated gas and electric delivery utility, serving nearly three-quarters of the state’s population. PSE&G is the winner of the ReliabilityOne Award for superior electric system reliability. PSE&G is a subsidiary of Public Service Enterprise Group Incorporated (PSEG) (NYSE:PEG), a diversified energy company (www.pseg.com).
SEPA is an educational non-profit organization based in Washington dedicated to helping utilities integrate solar power into their energy portfolios. The SEPA Top 10 Utility Solar Rankings report is one of many market intelligence, utility interaction and educational services SEPA provides to its utility and solar industry members. For more information about SEPA, visit our website at www.solarelectricpower.org and www.sepatop10.org
For more information:
Public Service Electric & Gas (PSE&G)
80 Park Plz
Newark, New Jersey
United States, 07101