NJ Launches Energy Resilience Bank

TRENTON, NJ—The Christie administration has laid the groundwork for what is believed to be the first state-level fund intended to bankroll projects to make energy infrastructure more resilient in extreme weather. Known as the New Jersey Energy Resilience Bank, the fund uses $200 million through New Jersey’s second Community Development Block Grant-Disaster Recovery allocation.

First proposed this past February, the initiative comes after Superstorm Sandy left an estimated five million New Jersey residents without power in the fall of 2012. Distributed energy resources, including combined heat and power, fuel cells and off-grid solar inverters with battery storage, allowed some critical facilities, such as hospitals, wastewater treatment plants and universities, to remain operational while the electric grid was down. ERB is intended to enable many more such facilities to remain operational during future outages.