Mayor Ravi S. Bhalla and the City of Hoboken today announced the launch of the City’s new renewable energy program that will allow residents to get more of their energy supply from green sources.
“I am excited that after years of effort, residents will be able to take advantage of more renewable energy to power their homes,” said Mayor Bhalla. “I invite all residents to consider choosing 100% renewable electricity through this program, which is a major step forward in our endeavor to reach net-zero energy by 2030, as established in the City’s Climate Action Plan. Together, we can all do our part to help ensure a brighter, greener future for younger generations.”
Under state law, electricity suppliers are required to source a minimum of roughly 23.5 percent of their load from solar, wind, geothermal, wave, tidal, landfill gas, and other renewable sources.
However, through the Hoboken Renewable Energy Program, the City will offer residents a new standard baseline of 10 percent more electricity from renewable sources like wind or solar through a new partnership with Direct Energy.
Residents will also have the choice to opt-up to have 100 percent of their electricity derived from renewable sources or opt-out of the program altogether and maintain their current state minimum energy supply.
The City established this program to provide 10 percent more clean, green energy at a lower electricity supply price than what PSE&G is currently offering at 12.84 cents per kilowatt per hour compared to 13.3 cents per kilowatt per hour at the time of bid respectfully. For those seeking to opt-up to have 100 percent green energy, the cost is only 14.54 cents per kilowatt per hour compared to PSE&G’s current price. This program will become effective on March 1, 2022, and will continue until November 30, 2023. Residents may choose any option of participation and may opt-out at any time during the term of the program with no fees or penalties.
While a resident’s supply of energy will be provided through the Hoboken Renewable Energy Program via Direct Energy, PSE&G will continue to distribute electricity to residents and be a resident’s utility company supplying them with their monthly bill. Residents will not receive a separate bill from Direct Energy.
The City and the Program Consultant, Concord Energy Services, will hold a virtual information session in the new year for residents to learn more about the program on Jan. 11, 2022 from 6 p.m. to 8 p.m. via Zoom. Residents must register at hobokennj.gov/renewablenergyzoom.
Residents will have until Jan. 31, 2022, to opt-up or opt-out of the program or they will be automatically enrolled with standard baseline service beginning in March 2022.
The City has made great strides towards its goals of achieving net-zero energy by 2030 and carbon neutrality by 2050 as outlined in the City’s Climate Action Plan.
Earlier this year, the City was recertified as a Silver municipality through the Sustainable Jersey program and received an A- ranking from the CDP-ICLEI unified climate reporting system, a global rating system for climate action.
For more information on the Hoboken Renewable Energy Program, go to www.hobokennj.gov/renewableenergy, call 1-866-968-8065, or email aggregationsupport@directenergy.com.
