July 17

Public Service Electric and Gas Co. is making $105 million in loans available to help residential customers in New Jersey install solar power systems on their homes.

The New Jersey Board of Public Utilities has approved the plan, which is the first of its kind in the United States, said Ralph LaRossa, president and chief operating officer of PSE&G. The Newark, N.J.-based utility implemented a similar program in April for commercial customers.

Residential electric customers in single-family homes may qualify to borrow 40 to 60 percent of the total cost of a solar installation project. PSE&G has financing to support the development of up to 6 megawatts of solar power under the residential program, which it will make available on a first come, first served basis over the next two years.

Contact Waste News reporter Joe Truini at (330) 865-6166 or jtruini@crain.com

To subscribe or visit go to:  http://www.wastenews.com