New Jersey Proposes Funding For Energy Storage Despite Budget Cuts

The State of New Jersey is planning to limit funding for renewable energy, including biomass, onshore wind, and solar, to a mere $7.5 million in 2014. However, the New Jersey Board of Public Utilities is proposing that the state set aside some $5 to $10 million over the next four years just for energy storage alone.

Given that New Jersey has goals of attaining 22.5 percent renewables by 2020, the budget appears unsatisfactory. New Jersey is still leading in solar, ranked behind only California and Arizona, but recent changes in the state office has left green energy with lower funding.

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