Solar & Battery Regulation & Incentive Programs

New Jersey Natural Gas - SAVEGREEN Residential On-Bill Financing Program

Program Overview

Category:: Financial Incentive
Program Type:: Loan Program
Implementing Sector:: Utility
State:: New Jersey
Eligible Storage Technologies:: Water Heaters, Furnaces, Boilers
Website:: https://www.savegreenproject.com/homeowners
Maximum Loan:: Up to $14,000 through NJNG's OBRP
Additional $700 WARMAdvantage rebate and $500 COOLAdvantage rebate available from NJCEP
Interest Rate:: 0% APR for 5 years for qualifying furnace/boiler and water heater installation
Administrator:: New Jersey Natural Gas
Applicable Sectors:: Residential, Installers/Contractors, Multifamily Residential
Last Updated:: 02/11/2019

Summary

Through the SAVEGREEN Project, New Jersey Natural Gas (NJNG) provides an On-Bill Repayment Program (OBRP) for up to $14,000 at 0% APR with no fees, points, or closing cost for energy efficiency upgrades.

Only current NJNG customers with 12 months of on time account payments are eligible to participate in the program. New NJNG customers must provide a letter of credit from previous regulated utility showing 12 months of on-time payments. NJNG reserves the right to limit participation in the OBRP to customers who have natural gas heating.

See the program web site listed above for complete details on eligibility and the application process. Participants who do not qualify for NJNG OBRP can apply for financing through alternate loan programs offered through New Jersey Clean Energy Program.