The company said that the programs are designed to help customers save money and energy, reduce greenhouse gas emissions and stimulate market growth.
The Residential Energy-Efficiency Program (REEP) will provide enhanced rebates up to $2,000 to residential customers installing efficient heating, cooling or water-heating equipment and applying for warm or cool advantage rebates through New Jersey’s Clean Energy Program (NJCEP).
Customers will be required to take a Home Performance with Energy Star (HPES) Audit to be performed by NJNG. For eligible customers who decide to have an audit performed by an HPES contractor, NJNG will also offer discounted financing for energy-efficiency upgrades installed as a result of the audit.
Financing, up to $10,000 per home with a repayment term up to 10 years at either 2.99% or 0%, based on income, will be offered through a third-party provider to qualified customers.
NJNG’s Access to Energy Pilot Program will offer residential electric heat customers, who currently receive at least $50 in electric benefits from the Universal Service Fund (USF), the opportunity to receive an average of $5,000 to convert to high-efficiency natural gas equipment.
In an effort to influence and increase the number of commercial customers installing energy-efficiency equipment, the Commercial Energy-Efficiency Program (CEEP) will match current NJCEP rebates available through the SmartStart Building program.
To help further encourage the installation of Combined Heat and Power (CHP) projects, which draw heat and electricity from a single source such as natural gas, NJNG will also match current incentives available from NJCEP’s Pay for Performance Program.
Commercial customers with a peak demand over 200kW in any one month over the previous 12 months will be eligible to participate.
Through CEEP, NJNG will also provide up to $100,000 for commercial customers who may have previously implemented energy-efficiency upgrades to participate in an Energy Reduction Plan and assess additional opportunities in increased efficiency.
NJNG will also launch a new Solar Energy Program to help make renewable energy more accessible and affordable in its service territory.
If fully subscribed, the cost of the customer incentives will be $102m to be recovered through NJNG’s current energy-efficiency rider.
NJNG also plans to implement an additional program entitled Fostering Environmental and Economic Development (FEED). The FEED program is designed to provide financial assistance for energy-efficiency upgrades and economic development opportunities for commercial and industrial customers, the company added.
Once reviewed and approved by the BPU, these programs will run for three years. These programs have been developed in line with the Regional Greenhouse Gas Initiative (RGGI) legislation signed into law on January 13, 2008, which encourages energy utilities in New Jersey to make investments in energy-efficiency and renewable energy projects on a regulated basis.
