New Jersey Natural Gas recently filed with the New Jersey Board of Public Utilities a proposed next generation of SAVEGREEN energy-efficiency offerings. If approved by the BPU, the new SAVEGREEN program cycle is expected to begin Jan. 1, 2025, and run through June 30, 2027.
Launched in 2009, SAVEGREEN provides energy efficiency solutions that meet the unique needs and budgets of residential and commercial customers — including low- and moderate income, multifamily, hospitals and municipalities.
The $482.4 million proposal will strengthen NJNG’s existing energy-efficiency offerings and provide comprehensive solutions to help participating customers save energy and reduce carbon emissions, while supporting New Jersey’s ambitious climate goals.
The proposal includes $217.2 million for continued 0% APR on-bill repayment programs, which provide customers the opportunity to access energy-efficiency upgrades by eliminating the upfront cost barriers. If fully subscribed, SAVEGREEN will help participating customers save more than 94 million therms of natural gas. This program will prevent over 694,000 metric tons of CO2 from entering the atmosphere, the same as removing nearly 155,000 cars from New Jersey’s roads each year.
“Energy efficiency is the engine that drives us toward our carbon emission reduction goals, while also providing energy savings for families and businesses,” Steve Westhoven, CEO and president of New Jersey Natural Gas, said. “These programs are cost-effective, help customers save on their energy bills and reduce carbon emissions by lowering energy usage. As the largest SAVEGREEN program proposal in NJNG’s history, this filing builds on our commitment to ensure equitable access to energy affordability and to provide practical emission-reduction solutions that address climate goals. We look forward to working with the BPU to put these programs to work for our customers and New Jersey.”
The proposed 30-month SAVEGREEN program cycle NJNG is seeking includes approximately $245.1 million of direct investment and $217.2 million in financing options. The average annual impact to natural gas bills for the typical residential heating customer using 1,000 therms per year is expected to be $44.83, or 3%, over the life of the program.
Since its inception, NJNG’s investment in SAVEGREEN energy-efficiency program offerings has helped build a portfolio of business for thousands of contractors who have participated in the program and generated nearly $595 million in economic activity. Over the lifetime of the program, 93,000 customers have taken advantage of rebates and incentives for energy-efficiency improvements, while over the past year more than 238,000 customers have participated in total SAVEGREEN program offerings, including behavioral.