Solar Loan Program for New Jersey
Public Service Electric and Gas (PSE&G) of New Jersey offers loans for photovoltaic (PV) systems to all customer classes in its electric service territory. The program will provide loans covering 40% to 60% of the cost of PV systems with the remainder to be financed separately by the customer. A loan term of 15 years is available to non-residential customers at an interest rate of 11.11%. Residential customers are eligible for a loan term of 10 years at a 6.5% interest rate. Customers may repay the loan through cash payments or by signing over their Solar Renewable Energy Certificates (SRECs) to PSE&G. Contact: Solar Loan Program, Public Service Electric and Gas (PSE&G), 80 Park Plaza, Newark, NJ 07102; 973-430-8460; http://www.pseg.com/customer/solar/index.jsp
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