So What is an Energy Resiliency Bank?
July 31st, 2014
In the wake of Hurricane Sandy, many facilities went without power for days and some weeks. However, other critical sites remained operational because of alternative power sources. A lesson learned was the need for critical infrastructure sites to remain operational throughout emergencies. Sites such as wastewater and drinking water plants, energy utilities, etc. are critical to the viability of New Jersey in terms of quality of life for its residents and our economy. The Christie Administration launched a new Energy Resiliency Bank or ERB, the first of its kind in the nation, which will provide financial assistance to these critical sites to upgrade their power sources so that they remain operational through emergencies. “The launch of the Energy Resiliency Bank, the first of its kind in the nation to focus on resilience, is yet another effort of the Christie Administration to increase energy resilience at critical facilities throughout New Jersey,” said Dianne Solomon, President of the NJ Board of Public Utilities (BPU). “Increasing energy resilience, whether through the Energy Resilience Bank, the BPU approved resiliency improvement measures implemented by utility companies or NJ’s Clean Energy Program, will minimize the potential impacts of future widespread power outages due to major storms like Superstorm Sandy.” For preliminary information on the ERB, the State’s Action Plan amendment for the second allocation of CDBG-DR funds can be viewed here.