We are investing hundreds of millions of dollars to help fund energy efficiency improvements in places where they are needed most, including residential multifamily housing.
Our $74 million Residential Multifamily Housing Program provides cost-effective energy saving opportunities for eligible multifamily housing projects. PSE&G pays for the improvements up-front and building owners repay a portion of the total cost of the project interest-free on their PSE&G bill over a five- or ten-year repayment period. These improvements provide comfort, safety and convenience for building residents, many of whom are low income families and seniors.
The Residential Multifamily Housing Program has performed energy audits on nearly 26,000 apartments. These audits assess the energy needs of the residents – making sure they are cool in the summer and warm in the winter.
The program has achieved more than 9,000,000 kilowatt hours of electric savings, which is enough to power more than 1,200 homes for a year and saved more than two million therms of natural gas, which is enough to supply about 2,000 homes for a year. PSE&G also estimates that the energy efficiency work at multifamily buildings completed will prevent more than 53 million metric tons of CO2, 42 metric tons of NOX and nine metric tons of SO2 from being emitted annually.
Rachael Fredericks-Program Manager Multifamily Program, PSE&G