For Immediate Release
866-655-2237 (media hotline)
MAYS LANDING, N.J. (April 27, 2021) – Atlantic City Electric has received approval from the New Jersey Board of Public Utilities (BPU) to implement a suite of energy efficiency programs that will provide residential and business customers with no-cost energy assessments, an array of incentives for energy efficiency upgrades, rebates on energy-efficient products, and a variety of other offerings to help them use less energy and save money. Expected to launch in July, the company's programs will save customers money, create clean, sustainable jobs, improve air quality, help improve equity in South Jersey communities and help combat the effects of climate change.
"The approval of our energy efficiency programs is a critical and exciting step to support energy savings and maintain affordable service for all of our customers," said Gary Stockbridge, Atlantic City Electric region president. "Our programs will help all our customers, including every size business, renters and homeowners, and households with limited incomes. Whether you are looking to implement minor changes or are ready for a larger project with even greater energy savings, our programs will offer a variety of options to meet the energy needs of every customer."
In total, Atlantic City Electric's new programs are expected to save customers more than $550 million.
Atlantic City Electric's new programs will include:
· Engineered Solutions: Assists medium to large commercial customers, including municipalities, universities, schools, hospitals and non-profits, in identifying and undertaking large energy efficiency projects through a no-cost, in-depth facility audit, tailored incentives and interest-free financing.
Atlantic City Electric's new programs are expected to result in more than 6,000 job-years, contribute more than $500 million to New Jersey's Gross Domestic Product and support local businesses. A unique economic benefit of energy efficiency is the "ripple" effect that occurs throughout the local economy as customers spend their bill savings, which creates more jobs in other sectors and boosts the economy.
More certified professionals and skilled trade workers will be needed to launch these programs and complete energy efficiency projects across the region. Atlantic City Electric plans to invest $600,000 in workforce development efforts to support local workers and new businesses. The company will also expand its existing workforce development programs to support careers in energy efficiency.
"Atlantic City Electric's energy efficiency programs are important for our South Jersey residents," said Albert Kelly, president and CEO of Gateway Community Action Partners. "When it comes to equity for families with limited incomes these diverse set of programs make a difference. Opportunities to save money on their electric bill go a long way for families struggling to make their rent or to purchase groceries. We welcome the benefits of these programs which are consistent with our mission to provide services that improve the quality of life and promote self-sufficiency."
As part of its broader commitment to ensure all customers have fair and equitable access to affordable solutions and the benefits of new energy services, Atlantic City Electric designed nearly one-third of the new offerings to meet the needs of households with limited incomes. Offerings include rebates for income-qualified customers on specific products and no-cost home energy checkups. In addition, the company is proposing a weatherization program that will install up to $7,500 in home energy retrofits at no cost for households with moderate incomes that are currently unable to participate in the Comfort Partners program.
The programs also support New Jersey's goals for a Clean Energy Future, with an expected 1.5 million tons carbon dioxide emissions reduction—the equivalent of removing nearly 300,000 cars from the road for one year—and reduce sulfur dioxide emissions by 885 tons and nitrous oxide emissions by 783 tons.
Similar to other energy services and investments Atlantic City Electric makes in the local energy grid, these new services will be paid for through delivery charges on customer bills. The programs are expected to cost approximately $96 million, or about 28 cents on the monthly bill for the typical Atlantic City Electric residential customer using 679 kWh per month. The program costs will be more than offset by savings and benefits for customers gained through bill savings for participating customers, economic growth and reduced emissions.
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