PSE&G received approval from state regulators to launch a $105 million solar investment program. The program will provide loans to developers and customers to finance the installation of solar systems on homes, businesses, and municipal buildings. The funding seeks to spur additional investment in solar energy and help meet New Jersey's goal of obtaining 20% of its energy from renewable sources by 2020. The loans will cover 40-60% of solar installation costs and be repaid through the sale of solar renewable energy certificates generated by the systems. Customers will pay for the program through a monthly charge on their electric bills.