New Jersey can leap frog from energy efficiency laggard to leader after state regulators approved the centerpiece of Public Service Electric and Gas Co.'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 invest $1 billion in energy efficiency 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.

Today's decision will allow us to bring the benefits of energy efficiency to every customer and give them options to reduce their energy use, save money and shrink their carbon footprint. New Jersey now has the opportunity to be at the forefront of clean energy policy and be a role model for the nation.'

-PSEG Chairman, President and CEO Ralph Izzo said.

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 jobs 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, and help lift New Jersey into the top five U.S. states for both electric and gas savings. That's an improvement from 34th place and 24th place respectively.

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.

We are committed to ensuring that all of our customers and the communities we serve get an opportunity to share in the benefits of this program, including lower energy bills, new jobs and cleaner air.'

-PSE&G President Dave Daly

For more, see: Energy Efficiency Fact Sheet.

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PSEG - Public Service Enterprise Group Inc. published this content on 23 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 September 2020 17:04:08 UTC