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New Jersey’s PSE&G Proposes $773 Million Solar Investment

Public Service Electric and Gas Company (PSE&G), which provides gas and electric service to much of the state of New Jersey, has asked state regulators to approve a $773 million proposal to install approximately 200,000 solar panels throughout the state. The company says 120 megawatts of power would come from panels that would be installed on government buildings, schools, power poles, and brownfields, as well as on commercial land and buildings owned by the utility. "By partnering with solar developers, we will bring solar projects online more quickly and cost effectively," says Ralph LaRossa, president and COO of PSE&G. "We will also make solar energy available to every neighborhood in our service area, ensuring universal access." The program would be paid for through consumer rate hikes, about 10 cents per month for the first year and up to 35 cents per month in five years. The program must be approved by state regulators before the project can begin.

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