TRENTON, N.J. - The New Jersey Housing and Mortgage Finance Agency (NJHMFA) Board has approved four new programs to assist in financing energy efficiency and renewable energy upgrades to single family and multifamily residences benefitting both owners and tenants alike from cost savings realized through reducing utility costs.

The four new programs are funded by a combination of U.S. Department of Energy funds awarded to the state as part of the American Recovery and Reinvestment Act of 2009 (ARRA). The implementation of these programs will help towards achieving the goals of the Energy Master Plan of New Jersey which calls for a 20% reduction in energy consumption and a 30% increase in renewable energy production by 2020 as well as create jobs and benefit residents of New Jersey.

The new programs are: Home Energy Saver Program, Multifamily Weatherization Assistance Program, Multifamily Solar Funding Pilot, and the Multifamily Energy Efficiency Improvement Pilot. These programs will work in conjunction with other energy efficiency and renewable energy programs offered through the New Jersey Department of Community Affairs, the BPU New Jersey Clean Energy Program, as well as existing NJHMFA programs in order to achieve a maximum level of impact.