State of New Jersey Raises Renewable Energy Funds in Carbon Auction-

New Jersey has collected around $9.1 million to fund clean energy projects during a quarterly auction of carbon allowances held earlier last week. The auction generated $87,956,944, with most of the proceeds going toward zero interest loans and grants for energy efficiency and renewable energy projects statewide. Additional funds will be given to the Board of Public utilities to provide customer assistance, and will also be used in programs that help lower carbon emissions and protect habitats. New Jersey is one of ten states involved in a voluntary cap-and-trade program which auctions off emissions from power plants, called the Regional Greenhouse Gas Initiative (RGGI). The other states are Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island and Vermont.