ComEd Energy Efficiency Program Exceeds 2024 Goals of Saving Customers 13 Million MWhs of Electricity
CHICAGO--(BUSINESS WIRE)--In 2024, the award-winning ComEd Energy Efficiency Program helped customers save over 13 million megawatt hours (MWhs) of electricity, surpassing state law requirements. Since 2012, installed energy-efficiency measures have continued to deliver savings. This resulted in nearly $1.3 billion in electric bill savings for customers last year, according to ComEd.
The energy-saving results are based on an independent evaluation of the ComEd program conducted by Guidehouse, a global consulting and managed services provider.
With the average monthly residential customer bill in the ComEd service territory projected to increase by approximately $10.60 in June, the result of the annual PJM Interconnection capacity auction held last year, the evaluation shows the ComEd program continues to effectively assist customers in managing their energy consumption and maintaining control over electricity costs.
'ComEd recognizes the challenge posed by rising supply costs effective in June,' said Melissa Washington, senior vice president of customer operations and strategic initiatives for ComEd. 'Although we can't control this increase, we offer energy-efficiency options to help customers manage their energy costs and connect them to grants and bill-support options. The fact that customers are taking advantage of these options highlights their importance.'
The ComEd Energy Efficiency Program, funded in accordance with state law, offers services, incentives, and rebates to assist families and businesses in reducing costs and improving energy usage. In 2024, the program:
provided ComEd residential and business customers with over $277 million in incentives through rebates and discounts on energy-efficiency measures and projects.
increased the comfort and efficiency of more than 53,000 multi-family units by installing insulation, air sealing, heat pumps, and other measures at no cost to the residents.
saved business customers more than 754,000 MWhs of electricity, amounting to over $79 million in bill savings, with an estimated total savings of 9.6 million MWh over the expected life of those measures, totaling more than $1 billion.
saved residential customers over 1 million MWhs of electricity, resulting in over $170 million in bill savings, with an estimated total savings of 13.2 million MWh over the expected life of those measures, totaling nearly $2.2 billion.
enabled over 161,000 income-eligible customers to save more than 730,000 MWhs, equating to nearly $123 million in annual bill savings. Income-eligible customers are also expected to realize estimated total savings of 10 million MWhs over the life of these measures, totaling more than $1.6 billion.
'By taking advantage of energy efficiency programs, customers can meaningfully reduce their energy bills,' said Paige Knutsen, executive director of the Midwest Energy Efficiency Alliance (MEEA). 'Energy efficiency programs support thousands of strong, local jobs and help make our communities' homes and businesses more comfortable and resilient.'
Since 2008, the ComEd Energy Efficiency Program, one of the largest and longest-running of its kind, has saved customers over $11 billion on electric bills and more than 99 million megawatt-hours of electricity. This is equivalent to:
avoiding over 74 billion pounds of carbon emissions,
removing nearly 8 million cars from the road, and
planting about 34 million acres of trees.
ComEd also provides various bill-assistance options, such as budget billing, payment arrangements, and federal grants through LIHEAP. So far this year, ComEd has helped over 114,000 customers access nearly $22 million in financial assistance and other support programs.
Customers can visit ComEd.com/BillSupport to find both energy-efficiency and bill-assistance options for which they may qualify.
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