NJ Board of Public Utilities (Njbpu) Plans to Allocate ~85% of Hear Funds to Our M-Rise Program for Majority…

Description

The NJ Board of Public Utilities (Njbpu) Plans to Allocate ~85% of Hear Funds to Our M-Rise Program for Majority Low-Income Multifamily Buildings. The Scope and Design of M-Rise (Focused on Delivering “Whole Building” Energy Efficiency Upgrades to Multifamily Buildings with Low- and Moderate-Income Residents) Have Been Targeted to Address the Need Within New Jersey’s Housing Supply. New Jersey’s Existing Energy Efficiency Programs Have Minimal Uptake in This Part of the Market, Where Capital Constraints Can Be an Inhibitor to Projects Moving Forward. The Overarching Goal of M-Rise Is to Increase Funding to These Projects So They Can Move Forward, and the Tenants Can Benefit from the Same Type of Energy Efficiency Upgrades Single Family and More Moderate Income Households Have Been Able to Install.