Over 97,000 Retail Appliance Rebates Provided and
Approximately $12 Million on Utility
Bills Saved for Business Customers Participating in the
PSE&G Small Business Direct Install Program
NEWARK, N.J.,
July 9,
2024 /PRNewswire/ -- PSE&G's latest report on its
Clean Energy Future Energy Efficiency (CEF-EE) initiatives
indicates a continuation of positive results from programs
implementation through March 31,
2024. Over 380,000 customers have taken action to save
energy and money through PSE&G's suite of energy efficiency
programs.
Participating customers are projected to save a collective
$484 millioni annually on
their utility bills through various program initiatives, including
approximately 70,000 home energy assessmentsii, as well
as the sale of about 306,000 smart thermostats and 95,000 power
strips through PSE&G Marketplace. Additionally, the program has
provided over 97,000 retail appliance rebates for energy-efficient
electric appliances, which has helped to reduce energy consumption
and greenhouse gas emissions.
For electric customers involved in these initiatives, projected
savings exceed 2.1 million megawatt-hours of electricity annually,
which is enough to power over 312,000 New
Jersey homes each yeariii. Additionally,
participating natural gas customers are expected to save
approximately 57 million therms of natural gas annually.
Collectively, these efforts are estimated to avoid about 1.6
million metric tons of carbon dioxide emissions
annuallyiv, equivalent to the emissions from 349,000
gasoline-powered cars on the road for a yearv.
Karen Reif, vice president of
Renewables and Energy Solutions, PSE&G, stated, "We are pleased
with the steady progress of our energy efficiency programs, our
initiatives are making a measurable difference, allowing customers
to lower both their utility bills and energy usage, which in turn
supports New Jersey's clean energy
objectives."
Additionally, PSE&G's commercial and industrial (C&I)
energy efficiency programs have demonstrated significant impact.
The PSE&G Small Business Direct Install Programvi
has delivered collective annual savings of approximately
$12 millionvii on utility
bills for participating business customers. This program is
projected to save 52 thousand megawatt-hours of electricity
annually, along with an estimated 2.4 million therms of natural gas
for participating electric and/or gas business customers. Together,
these C&I initiatives are anticipated to avoid about 44
thousand metric tons of carbon dioxide emissions each
yearviii.
Henry Wong, a PSE&G business
customer and owner of Carvel Ice Cream in Pennington, New Jersey, sought to enhance
energy efficiency and customer comfort at his establishment.
Through the Direct Install program, his store upgraded two aging
rooftop HVAC units with dual enthalpy economizers and smart start
features, yielding impressive results. "Using this program easily
saved me $10,000 in installation and
maintenance costs," said Wong. Overall, these upgrades resulted in
annual savings of over $1,600 to
Wong's business, reduced electricity use and improved cooling
efficiency, ensuring ongoing benefits for the business.
PSE&G also sponsors the Clean Energy Jobs Program, which
aims to expand the state's clean energy workforce by enhancing
economic opportunities for unemployed, underemployed and
low/middle-income individuals. By focusing on recruitment from the
communities we serve, the program has successfully placed over
2,500 New Jersey residents in
clean energy jobs, contributing to the state's clean energy
objectives while promoting local job growth.
PSE&G's commitment to excellence is underscored by its
ongoing recognition. Since 2021, PSE&G's energy efficiency
programs have earned over 50 awards, including the 2024 ENERGY
STAR® Partner of the Year Award for Sustained
Excellence. This award honors partners who have consistently
demonstrated exceptional achievements in energy efficiency and have
received the organization's Partner of the Year recognition for a
minimum of two consecutive years.
For more information on PSE&G's energy efficiency programs,
including how to participate, visit homeenergy.pseg.com for
residential customers or bizsave.pseg.com for business
customers.
PSE&G
Public Service Electric & Gas
Co. is New Jersey's oldest and
largest gas and electric delivery public utility, as well as one of
the nation's largest utilities. PSE&G is the 2022 Edison Award
recipient from the Edison Electric Institute. PSE&G has won the
ReliabilityOne® Award for superior electric system
reliability in the Mid-Atlantic region for 22 consecutive years.
For the second consecutive year, PSE&G is the recipient of the
ENERGY STAR Partner of the Year award in the Energy Efficiency
Program Delivery category. In addition, in 2023 J.D. Power named
PSE&G number one in customer satisfaction with residential and
business electric service in the east among large utilities.
PSE&G is a subsidiary of Public Service Enterprise Group Inc.,
(PSEG) (NYSE:PEG), a predominantly regulated infrastructure company
focused on a clean energy future and has been named to the Dow
Jones Sustainability Index for North
America for 16 consecutive years
(www.pseg.com).
Forward-Looking Statements
This release
includes forward-looking statements, including but not limited to
statements regarding anticipated or expected energy savings, cost
saving and greenhouse gas emissions avoidance. There can be no
assurance that such energy and costs savings and greenhouse gas
emissions avoidance will be realized in the amounts described and /
or in the timeframes anticipated. Such statements are based on
management's beliefs as well as assumptions made by and information
currently available to management but are subject to risks and
uncertainties, which could cause actual results to differ
materially from those anticipated. Factors that may cause actual
results to differ include, without limitation: the ability to
implement our energy efficiency business strategy, and customer
adoption of our energy efficiency offerings. All forward-looking
statements made in this release are qualified by these cautionary
statements and readers are cautioned not to place undue reliance on
these forward-looking statements The forward-looking statements
contained in this Report are intended to qualify for the safe
harbor provisions of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended.
Visit PSEG
at:
www.pseg.com
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i Retail bill savings are based on rate class
averages for residential and small commercial customers.
ii Home energy audit includes: Home Performance
with ENERGY STAR®(HPwES), Home Weatherization
Program and Quick Home Energy Check-up (QHEC).
iii Based on the median annual consumption
of PSE&G's residential customers.
iv Carbon dioxide savings for electricity are based
on EPA eGRID marginal emission rates for the eastern RFC
region.
v Vehicle equivalency is based on EPA conversion
factors.
vi The PSE&G Small Business Direct Install
Program is designed to deliver comprehensive, cost-effective,
energy efficiency equipment for eligible PSE&G business
customers, with 12-month individual facility electricity average
peak demand usage of less than 200 kW.
vii Retail bill savings are based on rate class averages
for small commercial customers.
viii Carbon dioxide savings for electricity are based on
EPA eGRID marginal emission rates for the eastern RFC
region.
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