New Jersey Resources said its subsidiary New Jersey Natural Gas has received approval from the state Board of Public Utilities to expand its energy efficiency offerings.
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.
