NEWARK, N.J., Aug. 23, 2017 /PRNewswire/ -- The New Jersey
Board of Public Utilities (BPU) today approved a Public Service
Electric and Gas Company (PSE&G) proposal to extend three
popular energy efficiency programs and implement two new ones.
PSE&G will invest $69 million to
continue its Hospital Efficiency Program, Residential Multifamily
Housing Efficiency Program and Direct Install Program and to begin
a Smart Thermostat Program and Residential Data Analytics
Program.
PSE&G's Hospital Efficiency Program has upgraded 35
hospitals by installing energy conserving equipment. The
Residential Multifamily Housing Program has served more than 13,000
individual apartments and the Direct Install Program has helped
more than 1,500 government facilities, non-profits, and small
businesses become more energy efficient. The two new programs
will help residential customers save money on their home energy
bills by encouraging the purchase of smart thermostats and by
providing selected customers with personalized energy reports.
"Energy efficiency remains a huge missed opportunity for too
many of our customers," said Courtney
McCormick – vice president, renewables and energy solutions,
PSE&G. "So we are very happy that today's BPU approval
will allow us to help even more hospitals, apartment buildings,
government facilities, non-profits, small businesses and
residential customers realize the benefits of energy efficiency to
save energy and money while doing their part to reduce their impact
on our environment."
Estimates show that the approved investment amount will save
enough electricity to power 9,000 average size homes annually and
save enough natural gas to supply more than 7,000 homes each
year.
PSE&G's Hospital Efficiency Program helps hospitals and
healthcare facilities upgrade outdated and unreliable heating,
cooling, motors, lighting and other systems by providing expert
advice, incentives and interest free on-bill financing.
Upgrades substantially reduce energy consumption and operating
costs. PSE&G will invest an additional $25 million in this program.
The Residential Multifamily Housing Program helps increase
comfort and reduces energy costs by providing expert advice,
incentives and interest free on-bill financing to install efficient
heating and hot water systems and controls, lighting, insulation,
refrigerators and more in apartment buildings. PSE&G will
invest an additional $20 million in
this program.
The Direct Install Program helps government agencies and
non-profits, as well as small businesses located in Urban
Enterprise Zones, reduce their energy consumption and bills by
paying for 70 percent of project costs for lighting, heating and
cooling systems upgrades, and by providing interest free on-bill
financing for the balance of the cost. PSE&G will invest an
additional $15 million for this
program.
The Smart Thermostat Program is a new program that offers a
$150 discount for qualified smart
thermostats that will be available from a PSE&G online
marketplace. PSE&G will invest $6.5 million in this program to make these
powerful energy saving devices more broadly available to
customers.
The Residential Home Energy Reporting Program will use a variety
of data to analyze residential customers' energy consumption,
identify energy savings opportunities and provide customized
recommendations to lower their energy bills. Customers will
receive personalized Home Energy Reports periodically throughout
the year with the goal of providing meaningful energy savings for
participants. PSE&G will invest $2.5 million for this new program.
About PSE&G
Public Service Electric and Gas Company (PSE&G) is
New Jersey's oldest and largest
regulated gas and electric delivery utility, serving nearly
three-quarters of the state's population. PSE&G is the
winner of the ReliabilityOne Award for superior electric system
reliability. PSE&G is a subsidiary of Public Service
Enterprise Group Incorporated (PSEG) (NYSE: PEG), a diversified
energy company.
Visit PSEG at:
www.pseg.com
PSEG on Facebook
PSEG on Twitter
PSEG on LinkedIn
ENERGIZE! blog
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