The New Jersey Clean Energy Program™ experienced an increase in applications to the Residential Existing Homes (“Existing Homes”) Program for Fiscal Year 2022 (“FY22”) and is proposing to shift current surplus funding from the Commercial and Industrial (“C&I”) Buildings Program to ensure adequate funding is available to meet the demands of the program for the remainder of the year. Staff is requesting comments on the proposal prior to presenting it to the New Jersey Board of Public Utilities for consideration.
At the end of Fiscal Year 2021 (“FY21”), the Home Performance with ENERGY STAR (“HPwES”) Program received a significant number of applications, beyond that which was originally estimated, and as a result, Staff projects the program will exceed the original HPwES forecast by approximately $3,400,000. In addition, during late FY21 and early FY22, the HVAC Program received a large volume of applications that are projected to exceed the original HVAC forecast by approximately $2,000,000. However, the current demand for some of the C&I Buildings sub-programs has been less than expected, making available sufficient funds in the amount of $5,400,000 for the Existing Homes Program. The C&I Buildings Program Manager will monitor program activity and update forecasts to determine if, as part of the annual true-up budget process, additional funds may be required to replace some or all of the funds proposed for transfer to the Existing Homes Program at this time.
The deadline for comments is 5:00 p.m. on September 17, 2021. Further details on the budget reallocation and the process to submit comments is available here.
Thank you for your interest in New Jersey’s clean energy future.
