With the completion of its 350 th residential solar installation, NJR Clean Energy Ventures (NJRCEV), a subsidiary of New Jersey Resources, announced that it will extend The Sunlight Advantage’s simple, solar savings to an additional 500 customers in fiscal 2012.

“The response to The Sunlight Advantage has been incredible,” said Laurence M. Downes, chairman and CEO of New Jersey Resources. “We are pleased to be able to offer simple, solar savings to even more customers and help grow the residential solar market in New Jersey. With no money down and no installation or maintenance costs, The Sunlight Advantage is an easy way for owners of homes, large and small, to get solar and save on their electric bills.”

New this year, NJRCEV is offering a 15-year lease, which will provide customers with the potential for greater savings over the life of the system. Through the Sunlight Advantage, a solar system of approximately 6 kilowatt (kW) would cost a homeowner $65 per month over the lease period. This monthly rate is fixed and includes all necessary installation and maintenance costs. A typical homeowner with a 6 kW system can save approximately $100 a month on their electric costs, or $18,000 over the life of the lease, based upon current power prices. Systems vary based upon the size of the home, which could result in greater savings. Another added feature, NJRCEV will provide customers with a customized view of their expected energy savings generated by the system on a month-by-month basis.

“We’ve had a lot of success with The Sunlight Advantage,” said Darren Castelli, vice president of operations at Reliable Power and Solar, a leading solar installation contractor. “With its straightforward lease and fixed price, we feel it is the strongest solar offering in the state. It has helped our business grow enabling us to hire more people and, more importantly, our customers are pleased with the program.”

“I couldn’t be happier with the program,” said Scott Nelson, a Sunlight Advantage customer. “The savings have been tremendous. Not only would I recommend The Sunlight Advantage, I already have and everyone who has signed up is very satisfied with the results.”

Launched last January, The Sunlight Advantage is NJRCEV’s residential solar lease program that offers eligible homeowners a roof-mounted, crystalline solar system installed with no upfront installation or maintenance costs. In order to get the most benefit from The Sunlight Advantage, a home must have a south-facing roof to draw maximum exposure from the sun. Roofs with a southeast or southwest orientation may also be eligible. The roof must be clear of shading from trees or other structures, and not need to be replaced during the life of the lease. Interested homeowners who meet these eligibility requirements should call 855-4SUNLIT (855-478-6548) or visit www.sunlightadvantage.com for more information.

About New Jersey Resources

New Jersey Resources, a Fortune 1000 company, provides safe and reliable natural gas and renewable energy services, including transportation, distribution and asset management in states from the Gulf Coast to the New England regions, including the Mid-Continent region, the West Coast and Canada, while investing in and maintaining an extensive infrastructure to support future growth. With $3 billion in annual revenues, NJR safely and reliably operates and maintains 6,800 miles of natural gas transportation and distribution infrastructure to serve nearly half a million customers; develops and manages a diverse portfolio of 1.55 Bcf/day of firm transportation and over 59.4 Bcf of firm storage capacity; offers low carbon, clean energy solutions through its commercial and residential solar programs and provides appliance installation, repair and contract service to nearly 150,000 homes and businesses. Additionally, NJR holds investments in midstream assets through equity partnerships including Steckman Ridge and Iroquois. Through Conserve to Preserve®, NJR is helping customers save energy and money by promoting conservation and encouraging efficiency. For more information about NJR, visit www.njresources.com.

Copyright Business Wire 2010