SWITCH YOUR ELECTRIC SUPPLY TO GREEN/RENEWABLE POWER (10/9/2017)

(one of many ways YOU can save money, AND help the environment)

INSTALL SOLAR CELLS:

• THE GREATEST RETURN ON INVESTMENT:  if money is available, pay up-front to install solar panels on your roof and become your own electrical supplier.  Payback might be 4 years, due to lower electric costs,  solar federal tax credits and receipt of annual NJ SREC credits (annual solar dividends from NJ).  
• OR, FINANCE for as little as NO money up front.  The solar company installs and owns the panels installed on homeowner’s roof.  The homeowner signs a 10 or 20 year contract for a lower electric rate with the solar company. The investors in the solar panel company  benefit from fast payback. See the supplier list: Viridian Energy appears to be using this process. BUT watch the fine print on future electric price escalation!

ASK YOUR CITY TO SUPPLY 100% RENEWABLE ELECTRICITY: all residences are automatically included; aggregated (city or region-wide) electric purchasing enables significant discount

SWITCH TO A GREEN/RENEWABLE ELECTRIC SUPPLIER  This is the lowest complexity option that provides ~SAME environmental benefits as installing solar panels:.

• Search for the lowest cost renewable electric supplier among those licensed in NJ:
  
• Compare prices to JCP&L "price to compare": https://www.firstenergycorp.com/customer_choice/new_jersey/price_to_compare.html
• The lowest cost supplier, Oct 9, 2017, was http://greateasternenergy.com
  Residences save up to 2% and small businesses up to 14% of the energy portion of the electric bill, compared to JCP&L electricity generated by polluting fossil fuel

HOW DOES AN INDIVIDUAL SWITCH TO A RENEWABLE SUPPLIER?  uses Great Eastern Energy as example. other sustainable suppliers in NJ are likely to have a similar process:

·      General information is provided at http://www.nj.gov/bpu/residential/ ; Renewable Energy Certificates and http://www.renewablechoice.com/wp-content/uploads/2015/10/Guide-To-RECs-White-Paper.pdf

·      Great Eastern Traders buy contracts from nation-wide Brokers of “sustainable” certified electric sources. 

• The contracts are audited, to ensure compliance to NJ license requirements (separate audits ensure compliance with license requirements of each state in which Great Eastern does business).
• A US government high level view is provided at https://www.eia.gov/

HOW DO YOU PROCEED?  On-line signup takes only minutes. 

• With your latest electric bill in hand, fill out the form at the chosen vendor's website
• Enter your choice of 1 or 2 year contract
• The new electric supplier (at a new lower price) will be shown on your monthly JCP&L bill, ~ 2months after signing up (delay may be 3 or 4 months for small commercial business).  It may be labeled "Energy Charge"  (~66% of the total bill)
• JCP&L will continue their customary charges for "delivery service"

RENEW AT CONTRACT END.  (using Great Eastern as example) You receive a letter 1-2 months before contract end.  Follow the letter's directions.  You will have a month or two to re-enroll (call or use web site). On 10/9/2017, the renewal rate was lower than offered to new customers.  If you do nothing, you will be switched to a month-to-month variable rate for your sustainable electric. (This variable rate, on 2/17/2017 was ~JCP&L rate).  While you are month-to-month, you can call Great Eastern and switch back to JCP&L (might take 2 months for the switch).

REFERENCES:  Lutheran Church of the Good Shepherd (a commercial electric customer) has switched to Great Eastern Energy.  Good Shepherd church members (Residential customers) have switched.

BACK TO OVERVIEW: http://www.electric.smiller.org

archives: 3/25/2017 ; 7/30/2017 ;

NOTES: NJ Electric suppliers are required to meet "Renewables Portfolio Standard" (currently ~20% of electric must be renewable).

This report was updated by S. Miller 10/9/2017