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TRENTON – A bill sponsored by Senate Environment Committee Chairman, Senator Bob Smith, which gives public entities the option to enter into energy savings improvement projects in order to leverage future cost savings to pay for energy efficiency projects, was signed into law today by Governor Corzine.

“This new law represents a significant step forward in promoting New Jersey’s green economy and creating new green-collar jobs in the state,” said Senator Smith, D-Middlesex and Somerset. “Unfortunately, as the national economic climate continues to worsen, there is less capital available to public agencies to engage in environmentally sustainable, energy efficient construction. However, with this new law in place, green construction will literally pay for itself, with public agencies able to capitalize on future energy savings to shepherd projects from the design phase to reality.”

TRENTON – A bill sponsored by Senate Environment Committee Chairman, Senator Bob Smith, which would give public entities an opportunity to enter into energy savings improvement projects, in order to leverage future cost savings to pay for energy efficiency projects was approved by the Senate today by a vote of 36-0.

“The future of our economy will rely very heavily on green-collar jobs and construction projects designed to enhance energy efficiency,” said Senator Smith, D-Middlesex and Somerset. “As we continue to look for ways to mitigate the economic distress New Jersey is facing as a result of the national recession, we need to adopt a new paradigm in job creation and efficient use of our existing resources. We know that energy efficiency projects have a large return on their investment; through this bill, energy efficiency projects for public entities would quite literally pay for themselves.”