ASSEMBLY BILL AUTHORIZING GOV'T ENTITIES TO APPLY ENERGY SAVINGS NOW LAW

ASSEMBLY BILL AUTHORIZING GOV'T ENTITIES TO APPLY ENERGY SAVINGS NOW LAW
Act Authorizes Public Entities to Implement Energy Savings Improvement Programs

(TRENTON) -Legislation Assembly members Sheila Oliver, Pamela Lampitt , Upendra Chivukula, Wayne DeAngelo, Joseph Vas and John McKeon sponsored to authorize state, county and municipal governments and school boards to more easily implement energy savings-improvement programs was signed into law today by Gov. Jon S. Corzine.

The measure allows governments to enter into long-term lease-purchase agreements with energy companies to implement conservation measures.

The savings will be used to defray the contract costs.

"Even the best-laid plans to replace outdated and energy-inefficient heating, air-conditioning or other large capital expenditures can go by the wayside because of tremendous upfront costs," said Oliver (D-Essex). "But the costs of continuing to use energy-gulping systems gets passed directly  to homeowners in higher property taxes. We need to promote partnerships that can lead to direct energy savings and protect taxpayers."

The measure allows the state, counties, municipalities, school districts, independent authorities and public colleges and universities to benefit from the acquisition of new, efficient heating, ventilation and air conditioning equipment, as well as other energy-saving improvements such as insulation and more efficient lighting, without the need for upfront spending.

The bill could act as a catalyst to promote and sustain environmentally friendly, or "green," jobs.

During the first year of the program, the investment could generate $20 million in energy savings and create 500 jobs.

It's estimated that private investments could total $960 million - with $240 million in annual energy savings - by 2020.

"The cost of operating energy-inefficient buildings impacts everyone," said Lampitt (D-Camden). "As the annual energy savings from these programs grow, more and more buildings can be rehabilitated to make them cost-efficient and make their operation less costly to taxpayers."

"Investing in energy savings is an important way for us to protect the environment while simultaneously safeguarding taxpayer money," said Chivukula (D-Middlesex). "Reducing the release of greenhouse gases, promoting energy independence and saving public money is a winning situation all-around."

"Ensuring public buildings meet the highest levels of energy efficiency and environmental sustainability simply makes sense," said DeAngelo (D-Mercer/Middlesex). "This is the right thing to do for taxpayers, the economy and the environment."

"This law will protect the environment by reducing the release of greenhouse gases, help advance national energy independence by reducing public entities' consumption of energy and save taxpayers money, which means property tax savings when it comes to schools, counties and local governments," said Vas (D-Middlesex). "It couldn't be more timely."

"Efficiency is key to delivering cost savings and reducing waste," said McKeon (D-Essex) "By enabling government entities at all levels to invest in energy saving measures and by funding energy infrastructure, this pro-environment law will reduce greenhouse gases and advance our energy independence."