The goal of reducing energy consumption in New Jersey by 20 percent over the next 11 years got a boost last week when the U.S. Department of Energy awarded $73.6 million to the state for energy-savings projects. The money comes from the federal government as part of the American Recovery and Reinvestment Act.

Jobs will be created by expanding the state"s energy efficiency programs and providing additional support for renewable energy development. The proposed spending is consistent with the Governor's Energy Master Plan, which includes the goal of reducing energy consumption 20 percent by 2020 and increasing the amount of renewable energy to 30 percent of our energy consumption by 2020.

"New Jersey will be making major investments in energy efficiency and conservation as well as expanding renewable generation with this ARRA funding," said Governor Corzine. "These are the types of investment projects that will put people back to work quickly and create a more secure energy future for our state and our economy."

Here is how the money will be used:

$15 million will be committed to grants and loans for energy efficiency, renewable energy and alternative energy projects administered by the New Jersey Economic Development Authority (EDA).

$20.6 million will be dedicated to a new program administered by the Board of Public Utilities to invest in renewable energy and energy efficient projects at state departments, agencies and public colleges and universities.

$7 million will go to the New Jersey Housing and Mortgage Finance Agency Solar Financing Program for residential solar energy projects on HMFA's income-qualified multi-family homes.

$8 million will be used by the New Jersey Housing and Mortgage Finance Agency Low-Interest Loan Program for residential energy efficiency upgrades at single-family and multi-family homes where the family income is at or below 250 percent of the area median. Loan repayments will be used for a revolving account to provide additional loans.

$17 million will be committed to the Clean Energy Program to develop new programs and to supplement existing programs.

$6 million will go to the New Jersey Office of Energy Savings which is charged with reducing state government's energy consumption and lowering its energy cost. The money will be used to expand its auditing and investments in state-owned buildings.

Details concerning application processes, selection methods, selected projects and progress on selected projects will be made available at the state’s recovery website at http://nj.gov/recovery/.

In addition, BPU staff will work with each of the state entities implementing the programs to ensure they meet the reporting requirements of the ARRA and the DOE. For additional information on the American Recovery and Reinvestment Act, visit www.recovery.gov.