New Jersey Natural Gas
NEW JERSEY NATURAL GAS' THE SAVEGREEN PROJECT® REBATES AND INCENTIVES EXTENDED01/25/2013 - For Immediate Release
WALL, NJ -- New Jersey Natural Gas (NJNG) received approval from the New Jersey Board of Public Utilities (BPU) to extend the current rebates and financial incentives offered by The SAVEGREEN Project®, NJNG’s energy-efficiency program, through June 30, 2013.
“The SAVEGREEN Project has been a tremendous success, and the extension of its current rebates and financial incentives is a testament to the state’s commitment to help make energy-efficiency upgrades more affordable for our customers, particularly in the aftermath of Superstorm Sandy,” said Laurence M. Downes, chairman and CEO of New Jersey Resources, NJNG’s parent company.
During the extension period, the BPU and the New Jersey Division of Rate Counsel will continue to review NJNG’s SAVEGREEN filing, which was submitted in July 2012. “This decision will ensure the continuity of our energy-efficiency rebates and incentives without disruption to customers and participating contractors,” Downes continued. In the July filing, NJNG requested a continuation of SAVEGREEN until 2016 and approval of program modifications to provide residential customers with incentives to upgrade their water-heating equipment, as well as their heating and ventilation appliances. A final decision is expected prior to June 30, 2013.
SAVEGREEN offerings complement the energy-efficiency programs administered through New Jersey’s Clean Energy Program™ (NJCEP), providing rebates and financial incentives to help customers save energy and offset the costs of energy-efficiency upgrades. As a result of the extension, eligible customers will continue to receive an enhanced NJNG rebate of $900 for the purchase and installation of high-efficiency heating systems. Additionally, this rebate can be combined with NJCEP’s WARMAdvantage rebate, along with recently approved enhanced energy-efficiency rebates to New Jersey residents who have incurred damages to their homes as a result of Superstorm Sandy. (Information on Superstorm Sandy rebates can be found at www.njcleanenergy.com.) Qualified customers could receive up to $1,500 in rebates for the purchase and installation of a high-efficiency furnace or boiler, and some equipment may be eligible for the recently approved Federal Tax Credits.*
Homeowners who take a “whole-house” approach to energy efficiency with Home Performance with ENERGY STAR® (HPwES) may be able to implement up to $15,000 in eligible HPwES energy-efficiency improvements with no upfront installation costs. Specifically, SAVEGREEN will continue to offer qualified customers the opportunity to receive up to $5,000 in rebates and to participate in its On Bill Repayment Program up to $10,000 – fixed 0% APR for 10 years.**
Customers can start down this path with an HPwES home energy audit. For only $250, customers can identify additional energy-saving opportunities from an independent and comprehensive HPwES home energy audit performed by NJNG’s SAVEGREEN professionals. Or, if they prefer, they can contact NJNG for a list of other certified contractors.
For more information, contact The SAVEGREEN Project at 877-455-NJNG (6564).
NJNG representatives will be available at the Ocean County Home Show at the Pine Belt Arena in Toms River on Friday, January 25, 2013, through Sunday, January 27, 2013, to answer questions on energy-efficiency rebates and incentives, as well as energy assistance and home energy improvement programs. Follow NJNG on Facebook.com/NewJerseyNaturalGas to learn more about upcoming events and the latest information on energy-efficiency incentives.
*Please note that NJNG cannot provide tax advice. For tax advice, please consult your tax adviser or the IRS at www.irs.gov.
**For example, on a $10,000 repayment with an APR of 0% and a term of 10 years, the homeowner would make 119 payments of $83.34 and one final payment of $82.54. There are no fees, no closing costs and no prepayment penalties. For terms and conditions visit www.savegreenproject.com.
New Jersey Natural Gas
New Jersey Natural Gas is the principal subsidiary of New Jersey Resources, a Fortune 1000 company, that provides safe and reliable natural gas and renewable energy 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 $3 billion in annual revenues, NJR safely and reliably operates and maintains 6,800 miles of natural gas transportation and distribution infrastructure to serve approximately half a million customers; develops and manages a diverse portfolio of 1.5 Bcf/day of firm transportation and over 62.1 Bcf of firm storage capacity; offers low carbon, clean energy solutions through its commercial and residential solar programs and provides appliance installation, repair and contract service to nearly 135,000 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:
Follow us on Twitter @NJNaturalGas.
“Like” us at facebook.com/NewJerseyNaturalGas.
Download our free NJR investor relations app for iPad.
Renée Amellio, Media