New Jersey Completes 100 MW of Solar Capacity

State is 'first in the nation' for solar panels per square mile

NEWARK, N.J., Oct. 15 /PRNewswire/ -- The New Jersey Board of Public Utilities
(BPU) today announced that New Jersey now has over 100 MW of solar capacity
with more than 4,340 projects statewide. The ground-breaking achievement is
the latest example of New Jersey's renewable energy leadership and commitment
to reducing greenhouse gas emissions.

"This monumental achievement only serves to further strengthen New Jersey's
position as one of the fastest growing solar energy markets in the United
States," said Governor Corzine. "Our leadership is credited to our commitment
to environmentally responsible action and a competitive market-based
initiative."

New Jersey's solar success is particularly remarkable for the rapid progress
it has made in reaching the 100 MW milestone. Seven years ago, the state had
only 6 solar installations. Since that time New Jersey has established a
model program that incorporates both energy efficiency and renewable energy.
New Jersey's integrated approach to solar development includes a strong
Renewable Portfolio Standard (RPS) with a solar electric set aside, excellent
interconnection and net metering standards that have made it easier for
systems to connect to the distribution system, a Solar Renewable Energy
Certificate (SREC) financing model that provides energy credits and additional
long term financing for those who invest in solar.

"As we strive to meet Governor Corzine's comprehensive Energy Master Plan
goals, the NJBPU is continually looking to efficiently increase our renewable
energy generation while reducing New Jersey's greenhouse gas emissions." said
Jeanne M. Fox, President of the NJBPU. "Today, our innovative SREC financing
model combined with federal tax credits and New Jersey's Renewable Energy
Portfolio requirements provide the incentives needed to continue to spur New
Jersey's solar growth."

New Jersey's Solar Renewable Energy Certificate (SREC) financing model is one
of the State's newest initiatives to develop a vibrant solar market in the
state. Representing all the clean energy benefits of electricity generated
from a solar electric system, one SREC is issued for each 1,000 kWh (1MWh)
generated. SRECs are then sold or traded, separately from the power,
providing solar system owners a source of revenue to help offset the cost of
installation. In most cases, SRECs replace State rebates, which fueled solar
growth in the early years of the State's solar program. New Jersey is the
first government globally to adopt the use of SRECs to help finance solar
projects on a broad scale.

The BPU also recently approved innovative financing programs at three of the
State's electric utilities: Jersey Central Power & Light, Atlantic City
Electric, and Rockland Electric Company. In addition, earlier this year the
Board approved Public Service Electric & Gas's "Solar 4 All Program" to expand
solar generation in its service territory. Under these programs, the State's
electric utilities may enter into long-term contracts with customers for the
purchase of SRECs, which facilitates long-term financing for solar projects.

Information about New Jersey's Clean Energy Program and utility financing
programs can be found at www.NJCleanEnergy.com or by calling 866-NJSMART
(866-657-6278).

About the New Jersey Board of Public Utilities (NJBPU)
The New Jersey Board of Public Utilities is a state agency and regulatory
authority mandated to ensure safe, adequate and proper utility services at
reasonable rates for New Jersey customers. Critical services regulated by the
NJBPU include natural gas, electricity, water, wastewater, telecommunications
and cable television. The Board has general oversight responsibility for
monitoring utility service, responding to consumer complaints, and
investigating utility accidents. To find out more about the NJBPU, visit our
web site at www.nj.gov/bpu.

About the New Jersey Clean Energy Program (NJCEP)
New Jersey's Clean Energy Program, established on January 22, 2003, in
accordance with the Electric Discount and Energy Competition Act (EDECA),
provides financial and other incentives to the State's residential customers,
businesses and schools that install high-efficiency or renewable energy
technologies, thereby reducing energy usage, lowering customers' energy bills
and reducing environmental impacts. The program is authorized and overseen by
the New Jersey Board of Public Utilities (NJBPU), and its website is
www.njcleanenergy.com .

SOURCE New Jersey Board of Public Utilities

Doyal Siddell of New Jersey Board of Public Utilities, +1-973-468-8515