Public Service Electric and Gas (PSE&G) was recently selected as the NJBIZ “Healthcare Hero” for its innovative energy efficiency program designed specifically for hospitals. The $129 million program provides each hospital with a free investment-grade audit to identify various cost effective conservation measures that will make an impact on the facility’s energy efficiency and utility costs.
Hospitals operate 24 hours a day, 365 days a year and use large amounts of energy proving many opportunities to reduce energy consumption.
“While investing in energy efficiency may seem like an unconventional role for a company like ours, it’s where we see the utility of the future,” said Ralph LaRossa, PSE&G’s president and CEO. “Helping our customers make the sometimes costly upfront investments in energy efficiency allows them to use energy wisely, reduce their costs, and help the environment.”
PSE&G is New Jersey’s largest utility. Their program is one of only four such programs in the country and the only one in which the utility bears all of the upfront capital costs.
Measures for improving energy efficiency include replacing boilers, chillers, motors and pumps, or installing sophisticated energy management systems and high efficiency lighting. PSE&G provides upfront funding for the improvements, and the hospital then repays 30 percent of the total cost over 36 months without interest.
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