BPU Approves Long-Awaited PSE&G Electric Vehicle Settlement
Approved programs will continue promising acceleration of New Jersey’s EV market
Highland Park, NJ–On Wednesday, January 27th, The New Jersey Board of Public Utilities (BPU) unanimously approved the state’s first utility electric vehicle (EV) filing from PSE&G. While the settlement was significantly scaled back from the original filing, the approval indicates the state’s readiness to increase EV adoption and deploy necessary EV infrastructure.
“EV adoption is critical to meeting New Jersey’s clean energy goals,” said Karen Reif, vice president of PSE&G’s Renewables and Energy Solutions group. “Electrifying transportation is an important component of PSEG’s Powering Progress vision for a future in which we help our customers use less energy, ensure that the energy they use is cleaner, and that energy is delivered more reliably than ever,” Reif said.
The approved plan will contain the following programs:
- $80 million for residential EV charging equipment incentives;
- $35 million for mixed-use commercial EV make-ready incentives;
- $40 million for public DCFC make-ready incentives;
- $5 million for public DCFC electricity cost discounts;
This approved filing is one piece of a larger puzzle of cleaning up the transportation sector. New Jersey has set important goals: 100% clean energy by 2050, and EV adoption and charging infrastructure goals; allocated $300 million towards an EV rebate over the next decade, allocated VW Settlement funds to electric trucks, buses and charging infrastructure, joined the California Zero Emission Vehicle-MOU, signed onto a regional multi-state MOU to electrify medium- and heavy-duty vehicles; stated its intention to adopt California’s Advanced Truck Rules and announced a pilot truck voucher program for vans and trucks.
“These utility programs, in cooperation with existing state programs, private investments, and changing consumer attitudes are moving us closer and closer to accomplishing our clean transportation goals. Pam Frank, CEO of ChargEVC continued, ” While it took us a while to get here, we must now be ready to put our foot on the pedal and accelerate in order to reach the state’s aggressive but necessary clean energy, emission and clean transportation goals.”
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ChargEVC is a not-for-profit coalition of diverse stakeholders that includes retail automotive dealers, utilities, consumer and equity advocates, environmental and labor organizations and technology companies. See www.chargevc.org for more information.