NEWARK, N.J. (WPIX) - The Garden State is about to become a little greener with the planned installation of solar panels on 200,000 utility poles.

Public Service Enterprise Group (PSE&G), New Jersey's largest utility company, expects to spend $773 million on the project. Officials from the utility say the solar panels will generate up to 120 megawatts of electricity, that equals about one percent of the total power consumed in New Jersey.

According to The New York Times, panels will also be placed on schools, municipal buildings, low-income housing, and closed garbage dumps.

"We saw how the financial crunch has really brought renewables to a grinding halt," Ralph Izzo, the chief executive of Public Service Enterprise Group told the Times, "and this is a way to get it back going and a way to make sure all our customers benefit."

The panels will feed directly into the power grid, which will allow PSE&G to sell the electricity wholesale.

Customers can expect to pay 10 cents a month more in the first year of the plan, and up to 35 cents by the end of the 5-year project.

The plan still needs to be approved by the state legislature.