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New Jersey utility proposes to invest $300 million in EV infrastructure, $100 million in energy storage

New Jersey’s Public Service Enterprise Group (PSEG), the state’s largest utility, has revealed plans to invest $300 million in smart EV infrastructure, along with $100 million in utility-scale energy storage projects and $2.5 billion in energy efficiency measures. The company will file the plan with the state Board of Public Utilities later this year.
The New Jersey proposal follows announcements of massive new investments in EVSE in New York and California. According to the NRDC, the Garden State’s plan is by far the largest transportation electrification program proposed to date outside of California.
According to NJ Spotlight, the state currently has about 227 public charging stations, and about 15,000 EVs on the road, out of over 6 million registered vehicles.
“This ambitious program is all about continuing the positive momentum that the people of PSEG have built over the last 115 years,” said PSEG CEO Ralph Izzo. “It is the most significant investment program in PSEG’s history, marking a strong commitment to modernization of our infrastructure and a clean energy future. This will help meet growing consumer desire to use less energy, to ensure the energy they use is cleaner, and to lower bills.”
 
Source: NJ Spotlight, PSEG, NRDC