Social Media Sidebar

Announcement

Please sign up, comment on articles and bring your friends!

Current poll

PlanetTech is asking:

What do you think about our new web site?

Love it, indeed
Really good solution
Same as old one
The old one was better
This is a new option

Quote of the day

Just because something doesn’t do what you planned it to do doesn’t mean it’s useless.

 

Thomas Edison

New Jersey Utility Plans $4.1 Billion in Clean Energy Investment

RATE THIS! +7
Posted in Business on 2nd Oct, 2018 01:34 AM by Alex Muller

New Jersey’s biggest utility says it can make money by getting its customers to use less of what it sells. Public Service Enterprise Group’s electric and gas distributor is proposing to spend $4.1 billion on programs designed to help New Jersey meet its clean energy goals, according to a statement Thursday.

 

The initiatives would save customers an estimated $7.4 billion, the Newark-based company said.

 

“This may be the only industry in America making a business case to sell you less of its product,” Chief Executive Officer Ralph Izzo said in an interview. “It’s counter-intuitive. If you think of our product not as electricity or gas, but you think of our product as infrastructure that allows you to make the optimal use of that electricity and gas, then we can grow our bottom line at the same time that we lower the customer’s bill and improve the environment.’

 

Utilities across the country are moving to invest in grid upgrades and new technologies designed to help states achieve green-energy mandates put in place in part to combat climate change. It’s a rare opportunity for growth in an industry that’s been grappling with tepid demand as consumers use more-efficient appliances and produce their own power with solar panels.

 

New Jersey recently passed a law that requires utilities to reduce customers’ annual electric and gas consumption by 2 percent and 0.75 percent, respectively.

 

Here are the details of PSEG’s proposal, which will need approval from state regulators:

 

A $2.8 billion energy-efficiency plan that includes offering customers rebates and other incentives to purchase more-efficient appliances, smart thermostats and other equipment; also includes free energy audits.


An $800 million program to install smart meters.


A $364 million program for infrastructure to support almost 40,000 electric-vehicle chargers.


A $180 million proposal for 35 megawatts of energy storage capacity.


Tags: solarenergyhardwaresolar panelsUSA

Read original article » Back to category

Comments



 

Recent headlines

  • Posted in Science on 2018-10-22 02:55:11
    SpaceX competitor Vector raises $70 million to build more.....read more
    Posted in Software on 2018-10-19 11:09:41
    Idx raises $33 million for AI that detects eye disease.....read more
    Posted in Software on 2018-10-19 11:07:05
    University of Florida’s AI finds early lung cancer with.....read more
    Posted in Science on 2018-10-19 11:02:34
    Lunar landscape testing ground to be built in Germany..read more
    Posted in Hardware on 2018-10-18 18:16:43
    Swedish company Ovzon is the fourth client for SpaceX.....read more
Posted in Business on 2013-10-10 01:33
China is working towards a manned lunar mission in about.....read more
Posted in Business on 2013-10-20 07:17
Spacex says China is their main competitor for commercial.....read more
Posted in Software on 2013-10-20 06:43
Pirate Bay Browser Clocks 1,000,000 Downloads..read more
Posted in Medicine on 2013-10-10 02:10
Google reportedly investing hundreds of millions into new.....read more
Posted in Medicine on 2013-10-14 03:13
Endothelial Cells Can Repair and Regenerate Organs,.....read more
Posted in Science on 01.01.2010
Spacex says China is their main competitor for commercial.....read more
Posted in Science on 01.01.2010
Staring at Your Phone Could Be Making You Short Sighted..read more
Posted in Science on 01.01.2010
Oculus Rift virtual reality headset coming to mobile, but.....read more
Posted in Science on 01.01.2010
China is working towards a manned lunar mission in about.....read more
Posted in Science on 01.01.2010
Delivering drugs via nanoparticles to target mitochondria..read more

Recent Blog Posts

  • Posted by AlexMuller
    Even light drinking increases risk of death..read more
    Posted by AlexMuller
    Researchers have discovered how to slow aging..read more
    Posted by AlexMuller
    Human retinas grown in a dish explain how color vision develops..read more
    Posted by AlexMuller
    The smartphone app that can tell you’re depressed before you.....read more
    Posted by AlexMuller
    Neural networks don’t understand what optical illusions are..read more

Login to your Account

Login to your PlanetTech Account here

Username:
Password:
Remember me
or

Create a New Account

You just need username and password

The following errors occured:
Username:
Email:
Password:
Verify password:
Remember me