We've got to hand it to New Jersey--the oft-maligned Garden State is slowly but surely securing its place as a renewable energy leader. Last year the state's board of public utilities approved a $200 million contract between Petra Solar and Public Service Electric and Gas for the installation of over 200,000 utility pole-mounted (and grid-connected) solar panels. Now Morris County is funding a mammoth 3.2 megawatt solar project with what it calls the "Morris Model"--a combination of financing from utility company Tioga Energy and up to $30 million in county-guaranteed bonds.

The multi-million-dollar project will include solar panels on top of 14 schools as well as the roof and parking lot of the 2,500-seat William G. Mennen Sports Arena, which will gather 30% of its total electricity from 1.57 megawatts-worth of solar power, according to CNet.

Morris County's ingenious project will be a boon to the county. Here's how it works: Tioga Energy qualifies for federal solar tax incentives (Note: municipal renewable energy projects don't qualify directly, but Tioga does. Clever sidestepping here.). Savings from those incentives will be passed down to participants through a discounted electricity rate of 10.6 cents per kilowatt hour--compared to an average of over 15 cents from traditional energy companies--for the next 15 years. In total, the solar panels from the project will provide 17% of the electricity requirements for participants. Maybe it's time for other states to start taking New Jersey a bit more seriously.