PSE&G Energy Efficiency Programs Surpass $1 Billion in Annual Customer Savings
Approximately 525,000 customers and 22,500 businesses have participated in programs that help manage energy use and deliver lasting benefits across New Jersey.
NEWARK, N.J. - July 21, 2026 – PSE&G today announced that its energy efficiency programs are now generating more than $1 billion in annual customer savings,1 marking a milestone in the company’s ongoing efforts to help customers manage energy use and lower bill costs while strengthening communities, supporting economic growth and delivering environmental benefits across New Jersey.
Since launching its Clean Energy Future – Energy Efficiency programs in October 2020 through March 2026, nearly 525,000 residential and business customers have participated in energy efficiency programs that help improve the comfort and performance of homes, businesses and public facilities, while helping customers keep utility bills as low as possible. Each quarter, PSE&G releases updated energy efficiency achievements; past updates are available in our Newsroom.
Helping Customers Manage Energy Use
To date, PSE&G’s energy efficiency programs have delivered approximately 3.4 million megawatt-hours (MWh) of annual electricity savings, enough to power more than 497,000 homes for one year.2 Annual gas savings total approximately 87 million therms, equal to taking more than 550,000 gasoline-powered cars off the road.3 Together, those savings are helping to avoid approximately 2.5 million metric tons of carbon emissions annually.
Customers are also continuing to take advantage of a wide range of energy efficiency offerings. So far PSE&G has:
- Completed more than 111,000 home energy assessments
- Helped customers purchase nearly 373,000 smart thermostats on the PSE&G Marketplace
- Provided nearly 158,000 retail appliance rebates
- Recycled more than 36,000 appliances
- Enrolled more than 37,600 customers5 in our Demand Response programs, helping reduce strain on the electric grid during periods of peak demand, including some of the hottest days of the year.
Overall, the company has delivered approximately $1.1 billion in customer rebates6 and incentives that help make energy efficiency improvements more affordable.
Supporting Businesses
PSE&G’s business energy efficiency programs continue to help organizations across New Jersey improve building performance, better manage energy use and reinvest savings into operations and communities.
To date, approximately 22,500 businesses have participated in PSE&G’s energy efficiency programs, including more than 2,200 small businesses, while nearly 36,000 commercial and industrial projects have been completed. Small business participants alone are realizing approximately $31 million in annual energy savings.7
Local Investment and Workforce Development
The programs are also helping drive economic activity throughout New Jersey. Through March 2026, program investments have supported approximately 9,300 jobs statewide. PSE&G also works with a network of more than 1,000 trade allies, including union partners who are helping deliver and implement energy efficiency improvement projects across the company’s service territory.
Energy Efficiency in Action
The Township of Rochelle Park recently completed energy efficiency upgrades at its recreation center, fire headquarters and Department of Public Works building through PSE&G’s Direct Install Program. The improvements, including LED lighting, high-efficiency HVAC systems, a furnace replacement and pipe insulation are expected to save approximately $7,170 in annual energy costs. With nearly half of the project cost covered through PSE&G incentives, township officials plan to reinvest those savings into recreation improvements, public safety resources and other community priorities.
"Generating more than $1 billion in annual customer savings reflects the tangible impact energy efficiency is having for customers across New Jersey," said Lauren Thomas, vice president, Clean Energy Solutions – Customer Solutions, PSE&G. "Every project, whether it's in a home, a business or a public building, helps customers better manage their energy use, frees up resources that can be used on other priorities and creates lasting benefits for communities throughout the state."
To learn more about available energy efficiency programs, visit pseg.com/HomeEnergy for residential offerings or pseg.com/BizEnergy for business programs.
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About PSE&G
Public Service Electric & Gas Co. is New Jersey’s oldest and largest gas and electric delivery public utility, as well as one of the nation’s largest utilities. PSE&G has won the ReliabilityOne® Award for superior electric system reliability in the Mid-Atlantic region for 24 consecutive years. In 2025, for the fourth consecutive year, J.D. Power named PSE&G number one in customer satisfaction for residential electric service in the East among large utilities. PSE&G is a subsidiary of Public Service Enterprise Group Inc., (PSEG) (NYSE:PEG), a predominantly regulated infrastructure company named to the North America Dow Jones Best in Class Index for 18 consecutive years (www.pseg.com).
Forward-Looking Statements
This release includes forward-looking statements, including but not limited to statements regarding anticipated or expected energy savings, cost saving and greenhouse gas emissions avoidance. There can be no assurance that such energy and costs savings and greenhouse gas emissions avoidance will be realized in the amounts described and / or in the timeframes anticipated. Such statements are based on management’s beliefs as well as assumptions made by and information currently available to management but are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Factors that may cause actual results to differ include, without limitation: the ability to implement our energy efficiency business strategy, and customer adoption of our energy efficiency offerings. All forward-looking statements made in this release are qualified by these cautionary statements and readers are cautioned not to place undue reliance on these forward-looking statements The forward-looking statements contained in this Report are intended to qualify for the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
1 Retail bill savings are based on rate class averages for residential and small commercial customers.
2 Based on the median annual consumption of PSE&G’s residential customers.
3 Vehicle equivalency is based on EPA conversion factors.
4 Includes refrigerators, freezers, window air conditioners and dehumidifiers.
5 The Demand Response program enrollment numbers are reported through June 2026 to reflect the most current available data.
6 The figure reflects one-time rebates provided to help offset the upfront costs of energy-saving upgrades and products for residential and business customers. The rebate amount is not included in the annual customer savings.
7 The PSE&G Small Business Direct Install Program is designed to deliver comprehensive, cost-effective, energy efficiency equipment for eligible PSE&G business customers, with 12-month individual facility electricity average peak demand usage of less than 300 kW peak demand or less than 40,000 therms.
