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Rockland Electric Company Receives BPU Authorization for 10 Clean Energy Programs to Help Customers Save Energy and Money

  • Orange & Rockland Media Relations

  • Pearl River – noviembre 14, 2024 -- 11:00

Rockland Electric Company (RECO) has received approval from the New Jersey Board of Public Utilities (NJBPU) for a combined portfolio of 10 clean energy programs designed to achieve energy savings totaling 56,825 MWh, avoid 280,000 tons of greenhouse gas emissions and provide customers with savings of up to $70 million over the project’s lifetime. The programs will commence in January 2025 and run through June 2027.

The total cost of the program portfolio is $54.8 million and will yield approximately $87 million in avoided energy and environmental costs with 70% going directly to customers in the form of rebates and zero interest financing. More specifically, for every dollar invested in energy efficiency, almost two dollars of energy and environmental benefits are realized. RECO will recover the program portfolio costs through rates over a 10-year period.

Based upon the company’s approved program plan, the monthly bill impact for a typical residential customer with an average annualized monthly usage of 925 kWh would be $1.31. That raises the typical residential customer’s monthly bill from $223.64 to $224.95, or less than one percent. 

RECO, along with New Jersey’s other public utilities, developed the program portfolio to achieve energy reduction targets set forth by the NJBPU.

Here are details about some of the larger programs in the approved portfolio:

C&I Direct Install Program

 

This program is focused on the installation of efficiency measures for businesses, nonprofit organizations, municipalities, schools, and faith-based organizations (eligible customers) that typically lack the time, knowledge, or financial resources necessary to investigate and pursue energy efficiency projects. The direct install program is designed to provide eligible customers with a turnkey, streamlined customer experience and an easy investment decision.  

 

C&I Prescriptive and Custom Rebate Program

 

This program will promote the installation of high-efficiency electric equipment by Commercial and Industrial customers through prescriptive and custom rebates. 

 

Residential Efficient Products Program

 

This program promotes the installation of ENERGY STAR and other high-efficiency residential electric equipment through a variety of channels, including RECO’s online marketplace, direct rebates to customers, both online and in-store, and reduced point-of-sales purchase costs. The program will provide incentives for energy efficient appliances, electronics, heating and cooling equipment, thermostats, and other energy efficient products. 

 

Whole Home Program

 

This program will provide a comprehensive approach for residential customers to explore and invest in the efficiency and comfort of their homes and includes a free Home Energy Assessment. All participants in this program must have an initial energy assessment performed directly by a qualified contractor when quick energy efficiency measures may be installed. The energy assessment will develop an energy efficiency action-plan that includes recommendations for more complex upgrades and available incentives. To ensure the upgrades are accessible to all customers, no-interest financing is available. 

 

Income Qualified Program

 

The Income-Qualified Program will offer the same comprehensive approach as the Whole Home Program to moderate-income customers at no cost to ensure that all customers can participate in energy efficiency programs. 

 

Peak Demand Reduction Program

 

This program is designed to encourage customers to make temporary reductions in their electricity usage during peak demand periods from May through September. These periods, which can last a few hours, typically occur during the hottest days of the year when the electric grid is constrained by the high demand for energy. 

 

Building Decarbonization Program

 

The Building Decarbonization (BD) Program is designed to promote the installation of clean, renewable, heat pump and electrification technologies in residential, multi-family and Commercial & Industrial sectors. The BD program will offer a range of measures and incentives which will cover the following equipment end-uses: space heating and cooling, water heating, cooking, laundry and outdoor lawn-care.


Follow this link Rebates & Incentives for New Jersey Customers for more information about energy savings programs offered by Rockland Electric Company.
 

About Rockland Electric Company

 

Rockland Electric Company (RECO) is a regulated electric utility that serves approximately 75,000 customers in parts of Bergen, Passaic, and Sussex counties in New Jersey. RECO is a wholly owned subsidiary of Orange and Rockland Utilities, Inc., which in turn is owned by Consolidated Edison, Inc.

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