PSE&G is investing almost $400 million dollars to help fund energy efficiency efforts with customers that can most use the help. Through several unique programs, PSE&G has spread the benefits of energy efficiency to the residents of our cities, non-profit organizations, small businesses and institutions that serve the public, like hospitals and government offices. Our programs are extremely popular and are targeted at customers that might not otherwise undertake important energy efficiency improvements due to their high upfront costs and long pay-back time.
Our efforts to help make residential multifamily buildings more energy efficient are a great example of this. Back in 2009, we worked in collaboration with the New Jersey Housing and Mortgage Finance Agency (HFMA) to identify buildings – like garden apartments and high rises – as a customer segment that could greatly benefit from energy efficiency. As a state agency that helps ensure there is affordable housing for families in New Jersey, the HMFA understood that there was a need for energy efficiency improvements in multifamily housing. Working together, we developed our Residential Multifamily Housing Program, which helps multifamily housing facilities become more energy efficient, while also allowing renters to reap the benefits of living in a comfortable, energy efficient building.
By bringing together HMFA’s market knowledge with PSE&G’s financial resources and energy efficiency expertise, we were able to create an enormously popular and successful program.
The New Jersey Board of Public Utilities (BPU) initially approved a $19 million investment for the Residential Multifamily Housing Program in July 2009. Two years later, the program was extended by $20 million, and in April 2015, it was extended a second time by $35 million.
Work is either complete or ongoing at 44 housing complexes, and the program currently has a list of another 55 projects in the pipeline.
We’ve made more than 2,700 individual apartments more energy efficient in Newark alone, including one located at 1060 Broad Street which recently underwent a makeover that included the installation of new high efficiency boilers, programmable thermostats, energy efficient lighting and modern refrigerators in many of the units.
PSE&G also helped the 208-unit Orchard Garden apartments in Highland Park, NJ with energy efficiency improvements that will save the owners $100,000 per year in energy savings alone, not to mention non-energy savings such as reduction in maintenance costs. Residents will also see direct electric savings during summer on their electric bill from window AC and general building seal up work. Further south in Camden, NJ the Residential Multifamily Housing Program helped make major energy efficiency improvements at the more than 300-unit Northgate One building that will save enough electricity annually to power about 45 average size homes and enough natural gas for the needs of about 180 average size residences.
In fact, through the first quarter of 2015, the Residential Multifamily Housing Program has saved enough electricity to power almost 1,000 homes for a year and enough natural gas to supply more than 1,900 homes for a year.
Utilities like PSE&G can play a critical role in expanding energy efficiency programs and making them available for all consumers. It’s not surprising that, in most states that excel in energy efficiency, utilities are front and center in this effort. The Residential Multifamily Housing Program is a great example of how PSE&G was able to take the lead in matching our expertise with a real-world need to improve both the environment and the lives of thousands of customers who live in multifamily buildings.