Zero-percent loans have helped 32 New Jersey hospitals upgrade antiquated heating and cooling systems without diverting money from caring for patients, according to an article on the NJ Spotlight website.
A $129 million program by Public Service Electric & Gas has enabled those facilities to reduce their energy bills by updating, renovating and replacing antiquated boilers, lighting and other equipment.
The HackensackUMC Mountainside facility in Montclair recently completed $4.2 million worth of energy efficiency upgrades at the hospital, a move officials say will save the facility $350,000 annually in energy costs, or about $7 million over the 20-year lifespan of the equipment, the article said.
The program has generated about $10 million in savings in the first year, according to Michael Jennings, a spokesman for the utility.
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