In a press statement, PSE&G said it has put a proposal forth to invest $74 million towards expanding the rollout of three of its energy efficiency programmes and introduce two new projects to help consumers reduce their energy consumption and costs.
Commenting on the development, Courtney McCormick, vice president of renewables and energy solutions at PSE&G, said: "Our filing today with the BPU demonstrates PSE&G's continued commitment to energy efficiency, which is the lowest cost energy resource."
If the filing is approved, the utility will continue deploying its Hospital Efficiency, Residential Multifamily Housing and the Direct Install programmes to reduce energy costs in hospitals, healthcare, government, non-profit organisations, small businesses and residential multifamily buildings and facilities.
The approval of PSE&G’s energy efficiency proposal will allow the utility to save enough electricity to power some 9,000 average sized houses, and enough natural gas to power more than 7,000 homes a year.
The utility’s planned two new energy efficiency initiatives Smart Thermostat and Residential Home Energy Reporting programmes will target residential customers.
Under the Residential Home Energy Reporting, PSE&G plans to invest $2.5 million to provide consumers with personalised energy consumption reports to track their energy usage patterns to identify opportunities for improved energy efficiency.
The utility company proposed to invest $20 million to expand the Residential Multifamily Housing Programme which offers energy efficiency tips, incentives and on-bill financing for consumers to install low-energy consuming home appliances.
In the Direct Install Programme, PSE&G will invest $15 million to continue helping government agencies and non-profits, as well as small businesses located in Urban Enterprise Zones, reduce their energy consumption and bills through subsidies for lighting, heating and cooling systems upgrade.
The filing of the energy efficiency proposal is in line with efforts by PSE&G to meet recommendations set under the New Jersey Energy Master Plan for utilities to improve their energy efficiency programmes to create employment opportunities, reduce carbon emissions and the overall energy consumption in New Jersey.
Image credit: www.solenergy.com.