The utility is authorized to invest $259 million over three years to grow its SAVEGREEN Project, which aims to increase sustainability and reduce emissions by helping customers lower energy use and reduce their carbon footprint.
Wall-based NJR said its plans focus on residential, multifamily and commercial customers.
“NJNG continues to take action on our commitment to sustainability with the largest energy-efficiency program in our company’s history — building on our proven record of voluntary emissions reduction, and investing to build the clean energy future,” NJR CEO and President Steve Westhoven said in a prepared statement.
The plan includes approximately $127 million in direct investment, $109 million in financing options and $23 million in operating and maintenance expenses, NJR said. A typical residential heating customer would see an initial annual increase of $21.30, or 1.9%, for the program’s first year.
The program will include residential rebates and incentives, multifamily solutions and commercial and industrial assessments, among other options.