PSE&G’s Energy Efficiency Programs Projected to Save $445M

On Apr 4, 2024

PSE&G’s latest report on its Clean Energy Future Energy Efficiency (CEF-EE) initiatives indicates a continuation of significant accomplishments from programs through Dec. 31, 2023. Since the start of the CEF-EE program, approximately 1.8 million customers have benefited from PSE&G’s energy-saving tools, receiving valuable insights through energy usage reports, with about 360,000 taking action to save energy and money through PSE&G’s suite of energy efficiency programs.

Participating customers are projected to save a collective $445 million annually on their utility bills thanks to various program initiatives such as conducting approximately 65,000 home energy assessments. Moreover, residential customers purchased 305,000 smart thermostats and 85,000 power strips through PSE&G Marketplace benefiting from the rebates offered for these items.

For electric customers involved in these initiatives, projected savings exceed 2 million megawatt-hours of electricity annually, enough to power over 290,000 New Jersey homes each year. Additionally, participating natural gas customers are expected to save approximately 52 million therms of natural gas annually. Together, these efforts are estimated to avoid about 1.5 million metric tons of carbon dioxide emissions annually, roughly equivalent to the emissions from 325,000 gasoline-powered cars on the road for a year.

Moreover, PSE&G’s commercial and industrial (C&I) energy efficiency programs have yielded impressive results. Specifically, the PSE&G Small Business Direct Install Program has generated collective annual savings of around $10.5 million for participating business customers on their utility bills. This program is also projected to result in savings of 43 thousand megawatt-hours of electricity per year, along with anticipated natural gas savings of approximately 2 million therms annually for participating electric and/or gas business customers. Collectively, the energy savings from these C&I initiatives are expected to avoid approximately 37 thousand metric tons of carbon dioxide emissions each year, or roughly the equivalent emissions of 8,000 gasoline-powered cars on the road for one year.

Karen Reif, vice president of Renewables and Energy Solutions, PSE&G, expressed, “We’re delighted with the ongoing strong results of our energy efficiency initiatives and proud to continue offering our customers energy-efficient options that save them energy and money. Our efforts align with New Jersey’s clean energy goals, and we’re committed to working tirelessly to help individuals, businesses and the state achieve sustainability goals.”

In addition to these achievements, PSE&G sponsors the Clean Energy Jobs Program, dedicated to creating economic opportunities in the clean energy sector for unemployed, underemployed, and low/middle-income individuals in New Jersey. To date, the program has facilitated the hiring of more than 2,400 New Jersey residents in clean energy jobs, underscoring our commitment to supporting the state’s clean energy goals and fostering job creation within our communities.

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