Cape Light Compact, an energy service organization made up of Cape and Island towns, announced Tuesday a new three-year energy efficiency plan that includes $128 million in support of energy-saving measures for residential and business customers.
“The goal of the plan is to save 1,691,761 megawatt-hours of electricity over the lifetime of the measures, enough to power 106,438 homes for a year,” communications manager Lindsay Henderson said in a press release. “Saving that amount of electricity avoids emissions of 1,166,555 tons of carbon dioxide, which is equivalent to taking 245,591 cars off the road.”
The plan is funded through state-mandated charges on monthly electric bills, up $1.57 for a residential customer, $1.15 for a low-income customer, and $9.32 for a commercial customer. The standard return, however, is $3 saved for every $1 invested in the efficiency measures, according to a press release.
“This is a very valuable reinvestment of funds that consumers have paid for on their monthly bills,” Cape Light Compact administrator Margaret Downey said. “Prior to formation of the Compact, money that was charged for energy efficiency was sometimes spent off-Cape. The compact ensures that the funds collected here are used here.”
The plan will offer expanded support for customers living on fixed incomes and renters paying their own electric bill, and services for small businesses, in addition to a new “demand response offering,” in which customers could be paid for reducing their electric use during peak periods.
“Everyone pays for this program on their electric bills, and we encourage them to call us (800-797-6699) and take advantage of the free energy assessment, to have their home or business evaluated and find out how they can start saving energy and money,” Ms. Downey said.