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News Center :: News Releases :: 2011 :: THE SUNLIGHT ADVANTAGEā„¢ SIGNS ITS 150TH LEASE CUSTOMER

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News Releases

2011

New Jersey Resources

THE SUNLIGHT ADVANTAGEā„¢ SIGNS ITS 150TH LEASE CUSTOMER
03/03/2011 - For Immediate Release

WALL, N.J. – New Jersey Resources (NJR) launched The Sunlight Advantage™ to provide simple, solar savings to 350 New Jersey homeowners, and is pleased to announce that it is well on its way toward this goal with the signing of its 150th lease customer.    

“The response to The Sunlight Advantage has been tremendous and underscores the demand for solar energy and savings,” said Laurence M. Downes, chairman and CEO of NJR. “With The Sunlight Advantage, we are making it easy for homeowners to get solar and save on their electric costs month after month.”   

The Sunlight Advantage is NJR’s residential solar lease program that offers roof-mounted, crystalline solar systems to eligible homeowners. A typical system of approximately 6 kilowatt (kW) would cost $59 per month over a lease period of 20 years. This monthly rate is fixed over the lease term and includes all necessary installation and maintenance costs. A typical homeowner with a 6 kW system can save approximately $100 per month on electric costs, or more than $20,000 over the life of the lease, based upon current electric prices.    

NJR already has 100 customers enjoying benefits of solar power through its initial pilot offering announced in March 2010. On January 26, 2011, NJR announced the expansion of this program under The Sunlight Advantage brand to help to make solar power more affordable and accessible to an additional 350 customers. In order to get the most benefit from The Sunlight Advantage, a home must have a south-facing roof to draw maximum exposure from the sun. East and west facing roofs may also be eligible. The roof must be clear of shading from trees or other structures, and not need to be replaced during the life of the lease. Interested homeowners who meet these eligibility requirements should call 855-4SUNLIT (855-478-6548) or visit www.sunlightadvantage.com for more information.

New Jersey Resources, a Fortune 1000 company, provides reliable energy and natural gas services including transportation, distribution and asset management in states from the Gulf Coast to the New England regions, including the Mid-Continent region, the West Coast and Canada, while investing in and maintaining an extensive infrastructure to support future growth. With over $2.5 billion in annual revenues, NJR safely and reliably operates and maintains 6,700 miles of natural gas transportation and distribution infrastructure to serve nearly half a million customers; develops and manages a diverse portfolio of nearly 2.3 Bcf/day of transportation capacity and more than 50 Bcf of storage capacity; and provides appliance installation, repair and contract service to approximately 144,000 homes and businesses. Additionally, NJR holds investments in midstream assets through equity partnerships including Steckman Ridge and Iroquois. Through Conserve to Preserve®, NJR is helping customers save energy and money by promoting conservation and encouraging efficiency. For more information about NJR, visit www.njliving.com.


Contact:

Mike  Kinney, Media
732-938-1031

Dennis Puma, Investors
732-938-1229

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