SOLAR AND ENERGY STORAGE INVESTMENTS

The following evaluation criteria will be used to determine if an investment should be made, as well as the appropriate type and size of the investment:
• The degree to which the project advances Statewide energy goals as outlined in EO 1 and 2 and the RGGI Strategic Funding plans, including reducing energy demand, lowering energy costs/rates, reducing/avoiding greenhouse gas emissions, and expanding grid capacity.
• The location of the project, where, at a minimum, the project must be located in New Jersey. Priority will be given to the following sites:
o If the project is located in or otherwise serves Overburdened Communities
o If the project utilizes landfill or other brownfield sites
o If the project utilizes property owned by the State, one of its authorities, or another public entity (municipality, county, etc.)
• Qualifications and experience of the entities that will be involved developing and operating the project, where partners with demonstratable experience executing similar projects in terms of approach or scale and size are significant factors for consideration.
• The level of support and quality of commitments from other entities, such as private sector corporations, local government entities, local non-profits, etc.
• The project’s development and operational readiness, where opportunities that can deliver energy capacity quickly, or are ready to be developed will be considered more highly.
• The scale/size of the project
• The economic feasibility of the project, such as:
o Whether the project’s business model is realistic and sustainable, with a sustainable model being one that will require minimal further State assistance
o Whether the quantity of financial support requested from the Authority is both reasonable for the scale of potential impact and adequate to achieve the projected outcomes
o The potential for commercialization of the project
o The degree to which the project maximizes the leveraging of other sources of funding
• The degree to which the project promotes economic development, the creation or retention of jobs, and the stimulation of private sector investment and expansion.
• The degree to which the project will help grow New Jersey-based businesses and entrepreneurs.
• The degree to which the project will engage with the local community.
• The anticipated return of investment for NJEDA for the given investment structure.
• The extent of technological innovation and novel concepts that can catalyze markets and ecosystem-wide transformations, disrupt traditional industry standards, and unlock substantive opportunity to capture first-mover advantage.