PSE&G will extend the timeline of existing and introduce two new energy efficiency programmes following last week’s approval by the New Jersey Board of Public Utilities to do so.
In a statement, the energy provider says it will invest up to $69 million to boosts consumer energy efficiency savings under the Hospital Efficiency, Residential Multifamily Housing Efficiency and the Direct Install programmes.
The $69 million investment will also cover the unveiling of the Smart Thermostat and Residential Data Analytics energy efficiency programmes.
The utility’s five energy efficiency programmes are expected to save electricity enough to power some 9,000 households and natural gas to power more than 7,000 homes a year.
Under the Hospital Efficiency Programme, PSE&G has to date managed to implement energy efficiency upgrades to some 35 hospitals. The utility will increase investments towards the programme by directing an additional $25 million as the initiative is increased its timeline.
The Residential Multifamily Housing initiative has helped reduce consumer energy bills through the installation of low-energy consuming lighting, insulation, refrigerators and HVAC systems in some 13,000 apartments. PSE&G has been granted a greenlight to invest an additional $20 million towards the programme.
The approval allows PSE&G to invest $15 million for the expansion of the Direct Install programme in which the utility has previously helped government, non-profit organisations and small business consumers reduce their energy costs in some 1,500 facilities.
The Direct Install programme provides participants with 30% of total of energy efficiency upgrade programmes.
PSE&G and energy efficiency portfolio
Under the new Smart Thermostat programme, PSE&G will invest $6.5 million for consumers to be able to purchase smart thermostats at a discounted rate.
$2.5 million will be invested towards the Residential Home Energy Reporting initiative in which the utility will use data analytics to help consumers understand their energy consumption behaviours and identify energy efficiency potentials.
Courtney McCormick – vice president, renewables and energy solutions, PSE&G, commented: “Energy efficiency remains a huge missed opportunity for too many of our customers.
“So we are very happy that today’s BPU approval will allow us to help even more hospitals, apartment buildings, government facilities, non-profits, small businesses and residential customers realize the benefits of energy efficiency to save energy and money while doing their part to reduce their impact on our environment.”
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