In order to promote a green economy in New Jersey, the EDA has created Clean Energy Solutions (CES). This suite of financing programs includes interest-free loans and grants to ensure that commercial, industrial and institutional entities have the resources they need to grow and prosper while simultaneously reducing New Jersey’s carbon footprint. Ultimately, CES supports New Jersey's commitment to clean and renewable energy.
Whether you are a New Jersey-based company “going green”, a manufacturer of clean energy systems or products, or an innovative company developing new green technology, Clean Energy Solutions may be able to help.
Be sure to check back throughout the year, as CES will be expanding with new programs.
|What’s Your Business Financing Goal?
||What Your Company Looks Like
||Options That May Be Available*
|To raise growth capital and advance newly discovered energy efficiency, renewable energy or supply chain products in becoming competitive with traditional sources of electric generation
||Technology company with Class I renewable energy or energy efficiency products or systems that has achieved "proof of concept", achieved successful independent beta results, and has begun generating commercial revenues
||Edison Innovation Green Growth Fund (EIGGF)
|To identify a manufacturing site, support site improvements, construct a facility, and/or purchase equipment.
||A manufacturer of Class I renewable energy or energy efficiency systems, products or technologies.
||Clean Energy Manufacturing Fund (CEMF)
*All EDA offerings are subject to change, carry restrictions and require certain qualifications.
Product Fees and Interest Rate Pricing:
The EDA charges application and processing fees for its products, details of which are captured in the individual product information pages found on our website.
For its loan products, the EDA also charges a fixed or variable interest rate that has an interest rate floor for the specific product, and which is determined for individual loans at the time of closing using various other criteria. Interest rate floors utilize nationally recognized financial indices such as the 5 Year United States Treasury or the Prime Rate as published in the Wall Street Journal. For fixed and variable rates loans, adjustments will be made to the base rate and are calculated based on factors that involve the applicant's creditworthiness, project public policy criteria, including number of jobs to be created and the leveraging of total project costs to public dollars, and amortization. Please refer to product information pages for current interest rate floors.