PSE&G Projects Generated $1.15 Billion in New Jersey

Energy efficiency initiatives in 2025 stimulated significant economic growth and job-related wages across the state.

Updated on Sept. 25, 2026 in Utilities

PSE&G Projects Generated $1.15 Billion in New Jersey

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Do you believe utility energy efficiency programs provide significant economic value to your local community?

PSE&G energy efficiency projects generated $1.15 billion in total economic output throughout New Jersey in 2025. The analysis, conducted by E Source, highlights the broad financial influence of these utility-led programs.

Why it matters

The investment underscores the capacity for large-scale energy efficiency programs to serve as a regional economic engine. By driving significant wage growth and tax revenue, these utility projects demonstrate the financial ripple effects of statewide sustainability efforts.

The 2025 initiatives supported $467 million in wages and $164 million in tax revenue across New Jersey. Every $1 invested in these projects yielded $2.85 in total economic output.

The players

PSE&G

Public Service Electric and Gas Company is a regulated utility providing electric and natural gas service to a large portion of New Jersey residents.

E Source

This research and consulting firm specializes in data analytics and customer insights for the utility industry.

The details

The projects involved 60,000 participating customers who completed 75,000 individual energy efficiency upgrades in 2025. Nearly half of the total economic output was derived directly from these customer-focused project investments.

October 2020 to March 2026: Period of customer participation in energy efficiency programs.
2025: Year analyzed in the economic impact study.
July 2026: Release date for a separate analysis of customer energy savings.
September 2026: Date of publication for the E Source economic impact analysis.

Market Landscape

This study of 2025 initiatives tracks with the broader industry trend of quantifying the ancillary economic benefits of utility efficiency mandates. The figures establish a benchmark for how local energy investments compete with other state-level capital project drivers.

Residents and business customers who participated in the 2025 programs directly contributed to the state's economic activity and local tax base. Future energy efficiency offerings may continue to provide these participants with opportunities to lower their utility costs.

The takeaway

The data confirms that energy efficiency programs provide economic advantages that extend well beyond simple household utility bill savings. Customers can track future program updates to identify further opportunities for both personal energy cost reduction and regional investment.