PSEG Long Island joined thousands of organizations, companies, and individuals across the nation today to celebrate Energy Efficiency Day on October 5, by announcing it has helped customers save more than 720 million kilowatt-hours of electricity since January 1, 2014. That’s enough to power nearly 80,000 Long Island homes for an entire year.
Energy-saving programs and policies save PSEG Long Island’s customers millions of dollars and contribute to a cleaner and greener environment. Customers can make every day Energy Efficiency Day by simply changing out one energy-wasting incandescent lightbulb for a more efficient LED bulb, which will pay for itself in energy savings in less than a year.
“PSEG Long Island’s energy-efficiency programs and products help customers reduce energy usage, save money on their energy bills, and create a cleaner environment for the future,” said Michael Voltz, director of energy efficiency and renewables, PSEG Long Island. “Smarter energy use reduces the amount of power generation to meet customers’ needs. Since January 1, 2014, PSEG Long Island has invested more than $368 million in energy efficiency programs to benefit customers.”
Customers are saving energy with a wide variety of ENERGY STAR products. From January 1, 2014 to August 31, 2018, residential customers purchased more than 16.3 million ENERGY STAR lightbulbs and fixtures with the help of PSEG Long Island incentives. Compared to incandescent lighting, a single LED bulb will save a household approximately $230 over the lifetime of each bulb. By installing just five ENERGY STAR-certified LED bulbs in the most frequently used lighting fixtures in a home, it’s possible to save nine percent on energy costs annually.
Between 2014 and today, residential customers have:
- Taken advantage of more than 110,300 rebates on many ENERGY STAR-certified washers, dryers, refrigerators, dehumidifiers, and more.
- Scheduled more than 20,400 in-home energy assessments or completed one online themselves.
- Recycled more than 17,000 appliances, including old working refrigerators, freezers, room air-conditioners, and dehumidifiers.
Combined, all of the residential programs have saved customers more than 720 million kilowatt hours (kWh) since January 1, 2014, averaging out to $144 million in savings per year.
Since January 1, 2014, commercial customers have completed more than 18,200 energy efficiency projects, resulting in savings of more than 390 million kWh and electric bill savings of $70 million per year. Approximately 13,500 of the completed projects were for small-and medium-sized businesses.
Independent annual evaluations by Opinion Dynamics Corporation have found PSEG Long Island’s energy efficiency and renewable energy programs to generate energy savings that are cost-effective. In its evaluation for 2017, Opinion Dynamics found that the PSEG Long Island Energy Efficiency Program has a benefit/cost ratio of 1.9, which means that the program generated $1.90 in benefits to the utility and its customers for every $1 in costs to operate the program, including rebates.
Energy efficiency also serves as an economic engine, supporting 2.2 million jobs nationwide in manufacturing, construction, and other fields, most of which can’t be outsourced overseas. An energy-efficient economy is free to thrive and innovate. Electricity use was five percent lower in 2016 than in 2010, while the U.S. economy grew by almost 13 percent over those years, demonstrating that efficiency and economic growth go hand-in-hand. Reducing the energy used by manufacturers, homes, and businesses benefits everyone. The average household, for example, saves almost $500 every year from efficiency standards for common appliances such as dishwashers, refrigerators, and water heaters.
For more information on PSEG Long Island’s available residential and commercial rebates and incentives, as well as energy saving tips, please visit PSEGLINY.com/savemoney. Customers are also encouraged to join the conversation on Twitter and other social media using the hashtag: #EEDay2018.