New Jersey took a giant step toward becoming a national leader in energy efficiency when state regulators approved the centerpiece of Public Service Electric and Gas’s (PSE&G) landmark Clean Energy Future proposal.
The decision by the New Jersey Board of Public Utilities (BPU) clears the way for the state’s largest utility to commit to $1 billion in energy efficiency investments over the next three years. It’s the largest commitment ever in New Jersey and is expected to deliver environmental benefits and reduce customer bills while creating jobs and boosting the state’s economy. It’s also a major step toward achieving Gov. Phil Murphy’s clean energy vision, and propelling New Jersey’s economic and environmental sustainability policies to a new level.
The program’s energy-saving measures, which include rebates for energy-efficient appliances and equipment, are expected to deliver $1 billion in net customer savings, create 4,300 job and help New Jersey avoid 8 million metric tons of CO2 through 2050. Moreover, the program can help New Jersey achieve the BPU’s preliminary energy savings targets of 2.15% for electricity and 1.1% for gas within five years.
These newly approved programs will enable New Jersey to become a national leader in energy efficiency savings: currently the state ranks 34th for electric saving and 24th for gas savings through energy efficiency measures, according to the American Council for an Energy-Efficient Economy’s most recent report.
To help build a workforce with the skills needed to implement energy efficiency projects, PSE&G last month launched a job training program, and has partnered with community organizations and the state Department of Labor to recruit participants from urban centers. The goal is to prepare as many as 2,000 state residents for positions with contractors that will implement PSE&G’s energy efficiency programs.
The initiative offers residential, commercial and industrial customers rebates and other financial incentives to purchase energy-efficient lighting, HVAC equipment and smart thermostats. Customers also are eligible for free or affordable energy audits and energy efficiency kits. It was designed to meet with special emphasis on the needs of low-income, multifamily and small business customers.
For more, see: Energy Efficiency Fact Sheet.