PSE&G released data from its Clean Energy Future–Energy Efficiency report showing more than $900 million in annual savings for New Jersey customers.
The state’s largest gas and electric utility said the program, which ran from October 2020 through September 2025, provided cost relief to roughly 480,000 residential and business customers across New Jersey.
According to PSE&G’s report, the savings came through a mix of energy efficiency programs designed to reduce overall energy use and help customers better manage rising utility costs. The services included home energy assessments, rebates for appliances and HVAC upgrades, lighting upgrades, and discounted efficiency products sold through the PSE&G Marketplace.
During the five-year period, the utility reported more than 105,000 home energy assessments. Meanwhile, customers purchased nearly 350,000 smart thermostats and claimed around 150,000 rebates for energy-efficient appliances. In total, PSE&G said it distributed roughly $940 million in rebates to offset the upfront cost of energy-saving upgrades.
Businesses saw a significant share of the savings.
Approximately 20,000 New Jersey businesses participated in the programs, finalizing more than 32,000 efficiency projects. Small businesses in particular saw around $25 million saved, with around 2,000 taking part in PSE&G’s Direct Install Program.
According to PSE&G, St. Joseph’s Health is carrying out energy efficiency upgrades at facilities in Paterson and Wayne through the programs. “Every dollar we’re not spending on energy is a dollar we can put back into patient care,” said Scott Reilly, director of maintenance and engineering at the hospital.
The impact extends beyond cost savings. PSE&G claims the programs delivered significant environmental benefits.
NJ Customers collectively reduced electric use by an estimated 3.1 million megawatt-hours per year and cut natural gas consumption by about 80 million therms annually. Those reductions alleviate approximately 2.3 million tons of carbon emissions each year, according to PSE&G estimates.
The company stated that electricity demand in the region is expected to continue rising, which will add pressure to the energy system and associated costs. PSE&G intends to continue working with the state on energy efficiency initiatives—with more investments in energy generation, while shoring up grid reliability.
Additionally, PSE&G adds that efficiency programs added 7,300 clean energy jobs in New Jersey through the utility’s Clean Energy Jobs Program. Job creation remains of utmost importance as NJ unemployment continues to rise.
The New Jersey Digest is a new jersey magazine that has chronicled daily life in the Garden State for over 10 years.