NJ heading for No. 2 spot in solar power

July 29, 2009 12:20:23 PM PDT
New Jersey is heading toward the No. 2 spot - after California - in solar power generation with regulatory approval of a $515 million energy project.PSE&G, New Jersey's largest utility, was given state approval of plans to equip more than 200,000 utility poles with solar panels. The retrofitted poles and other devices are expected to generate 80 megawatts of electricity, enough to power about 64,000 homes.

Consumers initially will pay $1.28 a year to fund the project. Their cost will increase to $4.08 by 2028.

The New Jersey Board of Public Utilities also approved proposals from three other utilities Wednesday for projects capable of generating more than 60 megawatts of renewable energy. They will be funded by greenhouse gas credits.