The True Cost Of NJ Bill A577
Did you know that over 72% of New Jersey homes use natural gas for heating? With new green options coming onto the market, you may think that you can just switch. And NJ bill A577 hopes to do just that, by bringing renewable natural gas to New Jersey. New Jersey’s plan to reduce emissions is the most ambitious in the US, but at what price? How will this affect your New Jersey gas bill? Is New Jersey renewable gas worth it?
What Is Renewable Gas?
In this instance, we’re talking about mixes of hydrogen and natural gas, burned together to create a cleaner burning fuel. Experts see the cost of producing hydrogen falling in coming years by using renewable energy. Electricity from wind turbines would power electrolysis to separate the oxygen and hydrogen in sea water.
The Costs Of Doing Business
While this is a super cool, clean green energy process, there is of course a catch. While hydrogen electrolysis is cheaper on an industrial scale, the numerous costs aren’t insignificant. Firstly, you’ve got the cost of the electrolysis plants themselves. Secondly, gas pipes and appliances will need upgraded to handle the new fuels without posing safety risks. For now, the cost of upgrading their natural gas appliances may fall to homeowners. Additionally, there are safety concerns and extra training are required to safely handle hydrogen. If you haven’t seen the tale of NASA’s Broom Test by now, thankfully technology has come a long way since then. The desire to go green and use hydrogen is a great goal, but it’s going to cost.
How Will Renewable Gas Affect Your Energy Bills?
Using hydrogen probably will increase the cost of both residential natural gas and making electricity. Added costs of hydrogen gas could raise prices by 32% annually. Though current natural gas prices are relatively low, last year’s price hikes show they can change rapidly. As more information unfolds about the effects of this bill, a clearer picture of the costs will unfold.
Go Green Responsibly
But while green energy optimism is great, it’s important not to get swept up in the hydrogen hoopla. Of course, it’s still early days. Energy companies are keener to float a distant vision rather than discuss down to earth costs and hazards to New Jersey homes. To follow more news on the future of A577 and shop low energy rates in the Garden State, check out more at www.njenergyratings.com