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New Jersey Energy Resiliency Bank


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The Energy Resiliency Bank is offering a combination of grant (20%) forgivable loan (20%) and low interest (2%) financing for up to 100% of a project's cost for Water and Waste Water Treatment Facilities.

The ERB will be funded under the Federal Community Disaster Block Grant (CDBG) Disaster Recovery Program funds allocated to New Jersey by the US Department of Housing and Urban Development (HUD).  The plan proposes a $535 million investment in infrastructure which includes $210 million of funding to create an energy bank to fund resiliency projects. This first phase is $65 million for water and waste water facilities which would leave $145 million for the balance of the program.

A project can receive a total of 40% in grant funds and the remaining 60% with a 2% loan. This is better than the existing Combined Heat and Power (CHP) grants which provide 20-30% of a project's cost. Projects must choose between the Clean Energy-funded CHP grants and the ERB as they cannot qualify for both.

The ERB is a extraordinary opportunity for critical facilities in NJ to be able to implement resilient distributed generation which will also enable them to generate significant cost savings. The source of funding requires this to be fast tracked and it is incumbent on the eligible entities to apply for and deploy these resources as quickly as possible or this opportunity will be missed.

Copies of the Draft Program Guide and Funding Guide are attached below:
ERB Program Guide
Funding


Contributor: Joseph Sullivan
Date: November, 2014

 

 
 
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