New Jersey Natural Gas Files for Next Cycle of Energy-Efficiency Programs With Expanded Offerings - Seite 2

Natural Gas Demand Response

To align with the state’s clean energy goals, and increase energy-saving opportunities for residential customers, NJNG will offer a natural gas demand response (DR) solution consisting of two distinct paths — one uses customers’ existing smart thermostats and the other employs innovative technology at the meter. NJNG will engage customers and provide real-time, actionable insights to help reduce their natural gas usage during peak times. Participation in the program will be optional; and NJNG will incentivize customers to proactively manage their energy costs and reduce their carbon footprint beyond energy-efficiency measures.

Building Decarbonization

Through rebates and financing opportunities, NJNG will provide the option for residential customers to install residential hybrid heat systems. Moreover, the company will support the exploration and development of district geothermal heating within its service territory as part of its commitment to a cleaner energy future. This district heating approach could potentially serve residential, commercial and multifamily customers and benefit low- and moderate-income customers, including those residing in overburdened communities. These high-efficiency technologies provide an alternative path forward for customers that support increased energy savings and reduced emissions.

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.

About New Jersey Resources

New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses: