It turns out that one of the critical ways to reduce our carbon emissions is to electrify everything in our home and end our relationship with natural gas. Electrifying a majority of America’s homes and businesses by 2050 could reduce overall net emissions from the residential and commercial sectors by 306 million metric tons, which is equivalent to taking about 65 million cars off the road. And in New Jersey, it is estimated that the building (includes homes) sector contributes 26% of carbon emission in New Jersey.
One of the best ways to electrify your home is by converting natural gas burners, water heaters, dryers and cooktops to electric appliances. While there will be an upfront cost, the environmental cost is greater. Plus, you will save money over time as these electric appliances are much more efficient than oil or gas-burning furnaces and heaters. Currently, there are some incentives through PSE&G. See below. However, we expect incentives and financing for these appliances to increase over the next 5 years.
If your heating and cooling equipment is 10 years old or you have more costly electric heat (e.g., baseboard; furnace; wall heaters; electric radiant), it is the perfect time to replace with high efficiency electric equipment.
And, if you combine electrifying space and water heating with installing solar panels to produce your own energy, you will be electrifying your whole home in the cleanest way possible.
Here is an excellent heat pump buying guide published by the Northeast Energy Partnerships. It will help you to make a plan and navigate the options.
INCENTIVES AND SAVINGS to take advantage of - rebates up to $660
Check out PSE&G's program: Residential HVAC Instant Rebate Program. You can get instant rebates of up to $450. These rebates apply to natural gas equipment as well, so please only look for the electric powered equipment rebates.
You may also be eligible for PSE&G's low financing rates through their on-bill repayment program to help you pay for your upgrades.