As part of its New Jersey Board of Public Utilities approved Energy Efficiency Economic Stimulus Initiative, Public Service Electric and Gas Company (PSE&G) is offering the Residential Multifamily Housing Program. The Program is designed to increase energy efficiency and reduce carbon emissions of residential multifamily housing developments and to provide multifamily building owners with up-front 0% financing and grant incentives to cover the cost of eligible energy efficiency installations.
PSE&G is working with the New Jersey Housing and Mortgage Finance Agency (NJHMFA) to offer the program to NJHMFA-financed housing developments for the initial stage of this program, however non-HMFA buildings are also eligible for program funding.
Under the Program, building owners will receive an on-site investment grade energy audit of their building(s) at no cost. All energy efficiency measures identified by the audit as having a simple payback of fifteen years or less will be eligible for installation under the Program and for Program incentives. The energy efficiency measures recommended by the audit may include lighting, HVAC, humidification, building envelope, windows, doors, motors, and other energy consuming equipment. PSE&G will provide incentives to help pay for the cost of installing the energy efficiency measures. Building owners will repay their share of the cost over a ten-year period, interest free, on their PSE&G bill.
You must have a satisfactory record of bill payment with PSE&G to qualify for program participation. Applications will be considered on a first-come, first served basis.
If you have any questions, please contact John Giattino at 973-430-7214 or John.Giattino@pseg.com.