This will be the 3rd year in a row that regular Joes and Josephines will see their residential utility bills double. The Board of Public Utilities approves the rate hikes so they can they can generate megawatts that fill, not ours, but their pockets.We have the deregulation of the energy sector to thank for that. It was supposed to give residents a choice in utilities suppliers.
BPU says that 13.5 percent of New Jersey power load is supplied by alternative retail suppliers.
PSE&G says they are committed to help achieve the aggressive New Jersey State Energy Master Plan goals to reduce projected energy use a good 20 percent by 2020. They want to meet 20 percent of the state’s electricity needs.
The the megalithic utility company (that's 2 million customers) has committed to provide a cool $105 million toward the financing of solar system installations over the next two years.
The Solar Loan Program will allow solar systems to be installed on customers’ premises “behind the meter” using PSE&G as an essential source of capital.
At this time, though, applications are only being accepted for the Commercial/Industrial Segment, the Municipal/Not-for-Profit Segment and the Multi-Family Segment.
No applications are being accepted for the one-family residential segment. Renters are out of the picture altogether.
By the by, the interest rate on the15-year non-residential loan is 11.11 percent with a surcharge on all of our bills to cover the program's cost - PSE&G wants a 9.75 return on their magnanimous investment.
So that's another reason why utility bills continue to skyrocket.
See the Web site at www.pseg.com/solarloan.
