In an effort to save consumers money, boost the economy and protect the environment, Assemblyman Troy Singleton (D-Burlington) has introduced legislation that would bring clean energy improvements within reach for a broader segment of the population.
“By making energy efficiency improvements more accessible and affordable to those who have traditionally been underserved, we can alleviate the financial impact and put more New Jerseyans to work through pro-green energy initiatives,” said Singleton. “Creating an innovative system, while furthering New Jersey’s goal to be an environmental leader, is a win-win situation.”
The bill (A-4533) aims to have more New Jersey residents take advantage of energy efficiency equipment in order to lower electric bills, contribute to the state’s energy efficiency goals, and increase economic growth and sustainable job creation.
To that end, the bill would provide a financing program to make equipment and installations affordable for New Jersey’s electric and public gas customers. Traditionally, up-front costs of green infrastructure have been a barrier to investment, and subsequently prohibitive to lower energy costs, for many utility customers. This measure aims to break the barrier by establishing a means of acquiring and providing alternative low-cost financing to underserved markets.
“This measure will not only help provide a pathway towards our nation’s goal of energy self-sufficiency, but will also provide greater energy security and diversification,” added Singleton. “It will also support the effort to meet the renewable portfolio standards and energy efficiency requirements in New Jersey’s evolving energy market.”