PSE&G’s Historic Investment
PSE&G’s historic Clean Energy Future proposal centerpiece is a $1 billion investment in energy efficiency. It’s the most significant commitment to energy efficiency in New Jersey’s history and is expected to lower customer bills and environmental impacts while creating jobs and boosting the state’s economy. This program builds on PSE&G’s previous energy efficiency initiatives as we strive to bring the benefits of energy efficiency to every PSE&G customer.
PSE&G is investing in 10 energy efficiency programs to reduce environmental impacts and help customers reduce their energy consumption by using energy-efficient equipment, technologies and strategies. The program is a vital step toward achieving Gov. Phil Murphy’s clean energy vision, propelling New Jersey’s economic and environmental sustainability policies to a new level.
Energy efficiency costs less than any energy source, making it the most economical way to reduce air pollution and greenhouse gas emissions.
PSE&G’s energy efficiency program will save customers $1 billion on their utility bills, by helping them reduce their energy use, while also creating opportunities for improving air quality and public health and reducing the state’s carbon footprint.
Over the life of the program, energy efficiency investments are expected to:
Reduce carbon dioxide emissions by 8 million metric tons through 2050 and put the state on track to meet its greenhouse gas reduction goals.
Save enough electricity to power more than 2 million homes for a year and enough natural gas to supply more than 360,000 homes for a year; and
Create 3,200 direct jobs and 1,100 indirect jobs in the program’s first three years.
A Plan for New Jersey
New Jersey has set ambitious public goals for renewable energy and now has the opportunity to aggressively advance its energy efficiency agenda. On the American Council for an Energy-Efficient Economy’s 2020 national energy efficiency scorecard, New Jersey ranked 17th in the nation for actual electricity savings.
PSE&G’s energy efficiency aligns New Jersey with states where policymakers have embraced the role of the utility in delivering universal access to energy efficiency and adjusted their regulations to encourage the spread of energy efficiency. New Jersey has joined other states where utility incentives promote public policy goals to help customers reduce their energy consumption.
In addition, this program supports state public policy, including the New Jersey Energy Master Plan.
PSE&G aims to build on its success in providing efficiency programs to a variety of business segments, hospitals, apartment buildings, buildings that house nonprofits, small businesses and government agencies, helping them to reduce their energy bills by millions of dollars a year. PSE&G’s Clean Energy Future energy efficiency program is a leap forward in the effort to lower utility bills and improve New Jersey’s environment and create green jobs that help drive the economy.