Geoscape to Continue Residential Solar Leasing Program Despite State Funding Cuts

March 3, 2010

by Danny Vo

New Jersey residents will continue to be offered a solar energy leasing program offered by Geoscape Solar, despite recent questions regarding the future of New Jersey’s Clean Energy Fund.

In an attempt to cover a $2.2 billion shortfall in the state’s budget, Governor Chris Christie recently appropriated $158 million from the Clean Energy Fund and froze its spending, leading many energy officials to worry that the lack of funding may lead to cancelled projects.

While reliant on the clean energy fund in order to keep their program – which allows residential homes to utilize solar energy with no upfront payment and a comparable monthly fee to the utility cost of an electric company – Geoscape recently stated it would not cease its program amid Christie’s decision.

“We were thrilled with the response to the solar leasing program that we announced at the start of the year,” said Jeffrey Chavkin, president and co-founder, Geoscape Solar. “We strongly believe in the value of and future of solar energy and will continue to make it easier for consumers to jump on board through these leases, even though the incentives that help us underwrite the leases may not be available.”

Geoscape is one of many companies that have recently instituted new solar energy-related programs in order to increase its presence in the state, joining One Block Off The Grid, SunRun, and PSE&G.