New Jersey Natural Gas
NEW JERSEY NATURAL GAS FILES TO EXTEND SAVEGREEN ENERGY-EFFICIENCY PROGRAMS THROUGH 201812/17/2014 - For Immediate Release
WALL, N.J. – New Jersey Natural Gas (NJNG) today submitted a filing to the New Jersey Board of Public Utilities (BPU) seeking to continue The SAVEGREEN Project® through June 30, 2018. Launched in 2009, SAVEGREEN aligns with the programs available from New Jersey’s Clean Energy Program™ (NJCEP) and provides incentives, such as grants and on-bill repayment opportunities, to help NJNG customers make their homes and businesses more energy efficient. By seeking a multi-year extension, NJNG is looking to provide customers and contractors with continued consistency and stability in the marketplace.
“Utilities can play an important role in promoting energy-efficiency upgrades,” said Laurence M. Downes, Chairman and CEO of New Jersey Natural Gas. “Through The SAVEGREEN Project, NJNG has helped over 33,000 customers upgrade to high-efficiency equipment. With today’s filing, we are looking to continue this successful program and help even more customers save energy. When we use energy efficiently, effectively and wisely, it benefits us all.”
In the filing, NJNG proposes to continue its energy-efficiency programs currently in place, including a $500 grant for customers who install qualifying high-efficiency heating equipment. Customers installing both qualifying high-efficiency heating and hot water equipment at the same time may also be eligible for a $500 grant or the opportunity to participate in NJNG’s On-Bill Repayment Plan (OBRP) for up to $6,500 at zero annual percentage rate (APR).
Additionally, the no-cost Home Performance with Energy Star® (HPwES) assessment following the installation of qualifying equipment, and performed by an NJNG Building Performance Institute-certified home energy auditor, will remain in place. And income-qualified customers, who are at or below 400 percent of the Federal poverty level (annual household income of less than $94,200 for a family of four), may be eligible for a free home energy assessment.
HPwES customers may still be able to access a grant of up to $5,000 and an OBRP for up to $10,000 at zero APR. Additionally, commercial customers participating in the NJCEP Direct Install program could continue to access NJCEP rebates that cover up to 70 percent of the project cost and qualifying customers can use an NJNG OBRP to cover the remaining 30 percent, up to $53,570.
While the SAVEGREEN programs remain largely unchanged, NJNG is requesting minor modifications to better meet customer needs and adjust to market demands. The changes include a $100 grant for the installation of a WARMAdvantage-qualified, high-efficiency water heater, along with a free energy assessment, and extending the timeframe to install recommended seal-up and insulation measures identified through an HPwES assessment from six months to 18 months.
SAVEGREEN complements the State’s Energy Master Plan goals to lower energy costs for New Jersey residents and businesses while also addressing environmental concerns and stimulating the economy. Since 2009, SAVEGREEN has created 29 full-time positions at NJNG, completed more than 29,000 energy audits, awarded over 30,000 grants for high-efficiency equipment upgrades and enrolled more than 4,500 customers in the on-bill repayment plan. SAVEGREEN has also helped increase activity in the contractor market. The number of independent contractors participating in the program has grown from just over 100 to more than 2,100.
If approved by the BPU, NJNG will continue to provide SAVEGREEN programs through June 30, 2018. This filing does not change the rate paid by customers to support SAVEGREEN.
About New Jersey Resources
New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that provides safe and reliable natural gas and clean energy services, including transportation, distribution and asset management. With annual revenues in excess of $3 billion, NJR is composed of five primary businesses:
- New Jersey Natural Gas is NJR’s principal subsidiary that operates and maintains over 7,000 miles of natural gas transportation and distribution infrastructure to serve over half a million customers in New Jersey’s Monmouth, Ocean and parts of Morris and Middlesex counties.
- NJR Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.
- NJR Clean Energy Ventures invests in, owns and operates solar and onshore wind projects with a total capacity in excess of 93 megawatts, providing residential and commercial customers with low-carbon solutions.
- NJR Midstream serves customers from local distributors and producers to electric generators and wholesale marketers through its equity ownership in a natural gas storage facility and a transportation pipeline, both of which are Federal Energy Regulatory Commission (FERC)-regulated investments.
- NJR Home Services provides heating, central air conditioning, standby generators, solar and other indoor and outdoor comfort products to residential homes and businesses throughout New Jersey and serves approximately 118,000 service contract customers.
NJR and its more than 900 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®.
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Michael Kinney, Media Contact
Dennis Puma, Investor Relations
Joanne Fairechio, Investor Relations