The New Jersey Economic Development Authority (EDA) and the New Jersey Board of Public Utilities (BPU) has launched a new fuel cell programme to support standalone projects serving commercial, institutional and industrial customers in the US state.
The rolling grant programme will support fuel cell projects with an electric generating capacity of greater than 1 MW. Grants through the programme will be awarded under a tiered incentive structure based on the system size and amount of electricity that the project generates, with a maximum award of US$3 million per project. Total state and/or federal funding cannot exceed 50% of the total project cost.
Funding can be used for project-specific, fixed asset purchases. The tiered incentive structure is as follows:
- Greater than 1 MW: US$2.00 per watt (with waste heat utilisation)
- Greater than 1 MW US$1.50 per watt (without waste heat utilisation)
- Maximum Incentive US$3 million
- Maximum Percentage of Project Cost: 45%
There is a two-part application process for this open solicitation: applicants must first complete a technical application; if found to be technically eligible, the EDA's standard online application must then be completed. Both applications can be accessed via www.njeda.com/lschp-fc