PSE&G Proposes Smart Meter Installation, Files Proposal For Energy Storage, EVs, Efficiency
Public Service Electric and Gas Co. (PSE&G) said in a news release that, on Wednesday, it proposed a Clean Energy Future program (CEF) with the New Jersey Board of Public Utilities to make investments in clean energy and advanced technology
PSE&G called the proposals consistent with the Clean Energy legislation recently signed into law by Governor Murphy, which requires utilities to reduce customers' annual electric and gas consumption by 2 percent and 0.75 percent, respectively.
The "lion's share" of the investments provide customers with access to energy savings opportunities from 22 energy efficiency programs, PSE&G said
PSE&G said that, "CEF also includes a plan to implement an advanced technology platform, called the Energy Cloud, which would modernize the way the utility serves customers in the future."
PSE&G said that the Energy Cloud program would create an advanced technology network and upgrade 2.2 million electric meters to smart meters. If approved, PSE&G intends to install the smart meters by 2024.
The nearly $2.8 billion energy efficiency plan includes $2.5 billion of investment and $283 million in other program costs. It will allow customers to use up-front rebates and other financial incentives to purchase more efficient appliances, smart thermostats and other equipment; get free and affordable energy audits, reports and system design advice; get free and low-cost energy efficiency kits, tools and installations; and seed funding for new energy-saving techniques.
A $364 million EV program includes approximately $261 million of investment and $103 million in other program costs. The proposal jump-starts broader use of EVs by supporting nearly 40,000 EV chargers, the bulk of which are for residential use. It includes mixed-use and public DC fast-charging. CEF also supports EV innovation, including custom projects for airports, ports and other transit facilities and grants for school districts to buy and operate electric school buses.
A $180 million energy storage proposal includes approximately $109 million of investments and $71 million in other program costs. It calls for 35 megawatts of energy storage capacity over six years through five programs: solar smoothing, distribution deferral, mobile storage for outage management, microgrids for critical facilities and peak reduction for public sector facilities.