In a significant win for New Jersey’s energy future, U.S. Rep. Frank Pallone Jr. recently announced that President Joe Biden’s administration is awarding $2.4 million in federal funding under the Bipartisan Infrastructure Law to establish a new revolving loan fund that will advance energy efficiency and transform public buildings across the state.
This funding, awarded through the Energy Efficiency Revolving Loan Fund Capitalization Grant Program, is set to make a meaningful impact on government buildings, museums, parks, hospitals, schools, corrections facilities and transportation centers.
“This investment showcases the tangible benefits of the Bipartisan Infrastructure Law here in New Jersey,” Pallone (D-6th Dist.) said. “This funding not only reduces energy costs, but also drives job creation, boosts local economies and delivers cleaner air for our communities. We’re not just improving energy efficiency; we’re modernizing public spaces across our state — from schools and hospitals to government offices and transportation centers. New Jersey is leading the clean energy economy, and this grant is a vital step in securing that leadership for years to come.”
The grant program, part of the Biden-Kamala Harris administration’s broader Investing in America agenda, is designed to help states like New Jersey leverage private capital and achieve significant energy savings. Moreover, the program aligns with the Justice40 Initiative, ensuring that 40% of federal climate and clean energy benefits are directed to disadvantaged communities, fostering equitable growth and sustainability.
New Jersey’s State Energy Office will manage the revolving loan fund, which is expected to generate long-term economic benefits by reducing energy costs, fostering job growth in the clean energy sector, and significantly lowering carbon emissions statewide.
