Solar Gains Land PSE&G a Top Spot in Industry Ranking
. . . Utility is Third in Nation for Amount of Solar Added in 2012. . .
NEWARK, N.J., April 17, 2013
NEWARK, N.J., April 17, 2013 /PRNewswire/ --The Solar Electric Power
Association (SEPA) announced yesterday that Public Service Electric and Gas
Company (PSE&G) ranks third among U.S. utilities for the amount of solar
capacity added within its electric service area in 2012. This annual ranking,
which identifies the companies that are integrating solar into the nation's
power grid, is part of SEPA's sixth annual Utility Solar Rankings report.
This is the fourth consecutive year that PSE&G has ranked in the top three
among U.S. utilities for solar integration.
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According to SEPA, there were 144.5 megawatts-ac of solar capacity installed
in PSE&G's service area during 2012. PSE&G's Solar 4 All™ and Solar Loan
programs built or helped finance about 39 megawatts-ac of solar capacity in
2012, or more than 25 percent of the total. PSE&G electric customers
installed the remaining solar capacity independently and interconnected it to
the PSE&G electric grid.
Joe Forline, PSE&G's vice president - customer solutions, said that PSE&G's
ranking illustrates the strong support for solarin New Jersey.
"The fact that we have been in the top three of the SEPA rankings for four
consecutive years shows that New Jersey businesses and homeowners continue to
support clean energy solutions," he said. "Thanks to smart public policy and
programs like our Solar 4 All and Solar Loan initiatives, New Jersey remains a
center for solar power."
"Aside from solar's well-recognized environmental benefits, it is also
providing economic benefits," Forline added. " PSE&G's programs alone have
created more than 1,000 direct jobs and our Solar 4 All program has provided
11 New Jersey-based companies with more than $300 million worth of work,"
SEPA's Top 10 Utility Solar Integration report covers more than 260 of the
most solar-active utilities, representing more than 96 percent of the national
U.S. solar electric power market. Only Pacific Gas & Electric Company and
Southern California Edison bested PSE&G in the SEPA rankings for total amount
of solar capacity installed in their respective service areas in 2012.
"We are pleased to once again include PSE&G on our Top 10 list, which
identifies the leaders from our upcoming sixth annual Utility Solar Rankings
Report," remarked Julia Hamm, president and CEO of SEPA. "In 2012 new
installations resulted in almost 1,500 megawatts of additional new solar
connected to the grid, a doubling in new solar capacity from two years ago.
Both the number of systems and the amount of new capacity make solar
electricity the fastest growing electric source in the U.S. in 2012. SEPA will
continue to promote our utility leaders and encourage wide spread solar
adoption to ensure a clean, diverse energy mix for the future."
PSE&G's innovative Solar 4 All and Solar Loan programs are helping to make New
Jersey a national leader in solar energy. Solar 4 All will put 80 megawatts of
solar power in service by mid-2013 using both large-scale centralized solar
installations and pole-attached solar units in the more than 300 towns in
PSE&G's electric service territory. By taking advantage of previously untapped
resources – space on utility poles, unused brownfields and landfills and
flattop roofs – PSE&G is adding a considerable amount of solar capacity while
preserving precious New Jersey open space.
The Solar Loan program is making $247 million in financing available for
qualified residential and non-residential solar projects in PSE&G electric
service territory. The loan program helps to remove the financial barriers to
solar installations by providing a ready source of financing for about 50
percent of the project cost and allows customers to use the solar credits
(SRECs) that the solar systems generate to repay the loan. As of 12/31/12,
the PSE&G Solar Loan had financed 67MW-dc of solar capacity in New Jersey
representing $209 million in investment.
For more information on the Solar 4 All and Solar Loan programs, visit
Public Service Electric and Gas Company (PSE&G) is New Jersey's oldest and
largest regulated gas and electric delivery utility, serving nearly
three-quarters of the state's population. PSE&G is the winner of the
ReliabilityOne Award for superior electric system reliability. PSE&G is a
subsidiary of Public Service Enterprise Group Incorporated (PSEG) (NYSE:PEG),
a diversified energy company (www.pseg.com).
SEPA is an educational non-profit organization based in Washington dedicated
to helping utilities integrate solar power into their energy portfolios. The
SEPA Top 10 Utility Solar Rankings report is one of many market intelligence,
utility interaction and educational services SEPA provides to its utility and
solar industry members. For more information about SEPA, visit our website at
Want to know what's new at PSEG? Go to www.pseg.com/getnewsand sign up to
have our press releases sent right to your inbox.
SOURCE Public Service Electric and Gas Company (PSE&G)
Contact: Fran Sullivan, 973-430-6172, firstname.lastname@example.org
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