Energy Conservation Measures Will Provide Substantial and Ongoing Energy Savings; Work is Part of Utility’s Hospital Efficiency Program
Public Service Electric and Gas Company (PSE&G) is joining with Cooper University Hospital to help bring substantial energy efficiency improvements to the 600-bed healthcare facility. Funding for the work is through the PSE&G Hospital Efficiency Program, which made $79 million available to perform energy efficiency upgrades at hospitals in the utility’s service territory.
“A major focus of our work at PSE&G has been helping organizations use energy more efficiently,” said Joe Forline, vice president, customer operations, PSE&G. “By funding major energy conservation measures, our Hospital Efficiency Program allows hospitals like Cooper to worry less about energy costs and focus more on their core healthcare mission.”
Following an extensive, investment-grade audit at Cooper University Hospital, a number of energy conservation measures were recommended, including a new steam boiler, a new chiller, and the installation of premium motors . Through the Hospital Efficiency Program, PSE&G will pay for the improvements up-front, with Cooper University Hospital repaying a portion of the total cost over a 36-month period.
“We are constantly looking for measures to ensure that maximum dollars are being focused on our primary mission, to bring the best healthcare possible to our patients,” said John P. Sheridan, Jr., President and CEO of Cooper. “This energy-saving initiative not only will be cost -saving, but it will bring greener, renewed energy savings measures to our campus. PSE&G has been a true partner in working with us to develop a program that updates some of our outdated energy systems.”
The PSE&G Hospital Efficiency Program is a $79 million initiative that will fund the installation of energy conservation measures at 19 hospitals in the utility’s service territory. Through the program, PSE&G provides an investment-grade audit at no cost to the customer, then proposes various cost effective energy conservation measures that make a substantial impact on the hospital’s energy efficiency and meet other program criteria such as having a simple payback of less than 15 years. The program greatly reduces the financial burden on a hospital by providing up-front funding for the total cost of a project. The hospital then pays back a portion of the total project cost after the project is complete on the PSE&G utility bill at zero percent interest over 36 months.