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“This program is a great opportunity for businesses to get free money to pay for their CHP systems,” said David Lesser, president of IntelliGen Power. “The utility rates in New Jersey already make cogeneration a very appealing solution for energy users looking to save money, and support from this program drives down the cost even more. Even without this funding, cogeneration projects in New Jersey typically pay for themselves in less than 5 years.”
The LSCHP Program offers a total of $55 million in grants for CHP projects in New Jersey with a capacity greater than 1 megawatt, up to $3 million per project or 30 percent of the total project cost. The project cost is inclusive of design and permitting fees, as well as a full 5-year maintenance contract. Funding is available for both government and private sector entities.
IntelliGen Power is providing all interested LSCHP Program applicants with a free technical review of their CHP projects and assistance to ensure that their grant applications meet all the eligibility requirements.
“IntelliGen has more than 20 years of experience with cogeneration system implementation, and we know that funding for these projects can be very competitive,” Lesser said. “Our team of experts is available to help businesses apply for the grant and to make sure their projects get to the top of the list for consideration.”
The deadline for the first round of LSCHP Program applications is June 25, 2012. An additional round of funding is anticipated for late 2012 and potential applicants are encouraged to start as early as possible.
For more information, visit www.intelligenpower.com.
Publication date: 6/4/2012