New Jersey 2020
Client: New Jersey Board of Public Utilities
In 2008, the state of New Jersey set aggressive energy efficiency and renewable energy goals with the intention of positioning the State at the forefront of the growing clean energy economy. The stated objective was to target a reduction in projected energy use of 20% by 2020. This goal equates to offsetting projected growth in residential and building energy demand over the same time horizon: approximately 19,000 GWh per year, 5,700 MW peak electric system demand, and 101,000 BBtus of heating energy savings annually. If the goal is achieved, New Jersey residents, businesses and institutions will collectively realize $16.8B in net savings. This ambitious initiative will take a concerted, multi‐year effort and require $6.8B to fund a wide range of well coordinated policy and program strategies. Consumers are expected to spend an additional $4.4B on cost-effective energy efficiency investments to achieve these goals.
The New Jersey Board of Public Utilities (BPU) commissioned a report to outline an energy efficiency strategy for meeting the 2020 goal. The BPU contracted with a team of companies, including VEIC, to execute the work. In partnership with the other team members, VEIC led work on the residential and renewable components of the project.
The results of the work were reported out in the fall 2008, as part of the development of the Governor’s Energy Master Plan for New Jersey - a significant and historic step towards reducing the state’s future energy demand.
Ten key recommendations to achieving the plan goals include: 1) creating a New Jersey Energy Efficiency Utility, 2) supportive regulatory oversight by the BPU, 3) flexible energy efficiency program strategies, 4) aggressive state and local policies, 5) appropriate energy rates, prices and usage information, 6) community initiatives, 7) evaluation, measurement and verification, 8) workforce development, 9) ongoing learning and innovation and lastly, 10) regional and national coordination.
The report contains recommendations for interrelated programs and public policies that set new standards, builds market place capacities, and provides assistance to a majority of New Jersey residents, businesses and institutions for significantly improving the energy performance of homes and buildings.