Huntersville, N.C. — Lime Energy Co. announced today the award of a two-year contract by Public Service Electric & Gas for the implementation of their Energy Efficiency Direct Install Program.
PSE&G is one of the largest combined electric and gas companies in the U.S. and is also New Jersey's oldest and largest electric and gas utility. The program, serving municipalities and not-for-profits, is budgeted for $25 million over the next two years.
Lime Energy is one of three primary implementation contractors, and will provide comprehensive multi-measure efficiency projects for municipalities, with territory exclusivity in forty-two Northern New Jersey towns.
The projects will be funded in whole by PSE&G, with each municipality re-paying 20 percent of the project cost through on-bill financing. This 80 percent incentive allows municipalities to capitalize on PSE&G's commitment to satisfy increasing power needs through investments in efficiency in their customers' facilities.