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[vc_row][vc_column][vc_column_text]The New Jersey Board of Public Utilities and the New Jersey Clean Energy Program (NJCEP) are now offering enhanced incentives to increase participation in their energy-saving programs. As of this year, NJCEP is now offering double rebate amounts for energy-efficient equipment installed in existing buildings that meet specific eligibility criteria. The rebates also apply to K-12 public schools, municipally owned or operated buildings, and owned or operated buildings in specific county locations.

 

The double rebate eligibility criteria are outlined below for the following scenarios:

  • The building where equipment is or will be installed must be located within an Urban Enterprise Zone. Organizations do not need to become a Certified UEZ Business to be eligible for enhanced incentives from NJCEP.
  • The building where equipment is or will be installed must be located within an Opportunity Zone.
  • Any multifamily housing that an official document identifies as participating in a federal, state, or local affordable housing program. A list of qualifying affordable housing programs can be found here.
  • The building must be owned or operated by a Municipal Entity as evidenced by the name listed on the utility bill(s) for the building. If the name as shown on the utility bill(s) does not clearly delineate a Municipal Entity, other documentation may be accepted to demonstrate ownership on a case-by-case basis. The Municipal Entity name must be recognized on the New Jersey Municipalities Search tool.
  • The building must be owned or operated by a County Entity as listed on the utility bill(s) for the building. If the name on the bill does not clearly delineate a County Entity, other documentation may be accepted to demonstrate ownership. For a list of the applicable counties, click here.
  • The building must be owned or operated by a K-12 Public School as evidenced by the name listed on the utility bill(s) for the building. If the name on the utility bill(s) do not clearly delineate a K-12 Public School, other documentation may be accepted. The K-12 Public School name must be recognized on the New Jersey School Directory.

To determine if your organization is located in an Urban Enterprise Zone or an Opportunity Zone, visit the NJ Community Asset map located here. Enter the address of your building into the map and select the applicable layer you are searching for (Urban Enterprise Zone or Opportunity Zone). NJCEP requires a printed image or screenshot of the map to include with your rebate submission. To submit an application for the double rebate program, complete the application form, and submit it via email, mail, fax, or online portal.[/vc_column_text][vc_row_inner][vc_column_inner width=”1/2″][vc_column_text]

Double the Incentive, Double the Savings

Project with Regular Incentive Level

Minimum Monthly Savings $8,961
Annual Save $107,530
10 Year Save $1,075,301
Total Estimated Project Cost Before Incentives $187,127
Utility Incentives $35,184
Estimated Project Cost After Incentives $151,943
Payback (years) 1.41
Simple ROI 70.8%

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Project with 2X Incentive Level

Minimum Monthly Savings $8,961
Annual Save $107,530
10 Year Save $1,075,301
Total Estimated Project Cost Before Incentives $204,719
Utility Incentives (2x) $70,368
Estimated Project Cost After Incentives $134,351
Payback (years) 1.25
Simple ROI 80.0%

[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_column_text]EEP has put together an energy efficiency project example to show the potential impact of a doubled rebate through the NJCEP Enhanced SmartStart Buildings Incentive. The ROI increased by over 10% with the estimated project cost reduced by approximately $17,000.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_cta h2=”Does your organization qualify for 2x the savings?”]The EEP engineering team is well versed in many energy efficiency rebate opportunities available in New Jersey. For more information about the increased incentives offered by NJCEP, contact a member of the EEP team today.[/vc_cta][/vc_column][/vc_row]