The two-year program extension will provide additional investments in three program segments that are fully subscribed and have a backlog of customers who wish to participate.
• Hospital Efficiency Program: New Jersey hospitals have been particularly hard hit by the economic turndown. The program’s integrated approach to energy efficiency for this undercapitalized market sector has provided significant infrastructure improvements to urban hospitals. This extension will permit an additional $50 million investment targeted to in-patient medical facilities located in PSE&G’s electric and/or gas service territory. A free Investment Grade Audit will determine potential savings derived from a variety of measures and technologies including the installation of HVAC, humidification, ventilation motors, energy management systems, and other energy consuming equipment. On average, hospitals will repay about 30 percent of the cost of improvements over three years, interest free, on their PSE&G bill.
• Municipal/Local/State Government Direct Install Program: An investment of $25 million is available to government and non-profit facilities that receive electric and/or gas service from PSE&G. The program addresses a market segment consisting of numerous government and institutional facilities that are experiencing reduced revenues and struggling to hold down tax assessments. Government buildings, schools, universities and county colleges, community centers and regional authorities all are eligible. The program is targeted to buildings with annual peak demand use at or below 150 kilowatts. Customers receive an energy evaluation and report of recommended energy-savings improvements. Lighting upgrades are the primary improvement available under this program, with refrigeration, HVAC upgrades, and other energy-saving measures considered where appropriate. PSE&G will initially pay the full installation costs for all recommended energy savings improvements with the customer repaying 20 percent of the total cost to PSE&G over two years, interest free, on their PSE&G bill.
• Residential Multi-family Housing Program: About $20 million will be invested to address the needs of multi-family housing projects with five or more units. Eligible projects include New Jersey Housing and Mortgage Finance Agency (NJHMFA) financed projects and non-NJHMFA projects including garden, low, mid, and high-rise developments. Building owners receive an Investment Grade Audit at no cost. Cost-effective projects identified by the audit may include upgrades to lighting, HVAC, humidification, ventilation, windows and doors, motors, and other energy consuming equipment. Measures with a simple payback of 15 years or less will be considered for retrofit or replacement opportunities. PSE&G will pay all upfront costs. On average, the customer will repay 30-35 percent of the installed equipment costs, interest free, through their PSE&G bill.
All auditing services for the programs are provided through qualified audit and engineering professionals employed by PSE&G and hired through a competitive bid process. The program participants will hire local contractors to install the approved equipment.
For more information, visit www.pseg.com.
Publication date: 08/01/2011