When you're making a choice about your New Jersey energy, it's a good idea to learn more about energy in the Garden State. It gives you a better insight into where your energy is coming from and why you might have to pay the prices you pay. The U.S. Energy Information Administration provides some interesting statistics that will help you learn more about electricity and other energy in New Jersey, as well as other states. You can compare energy rates in New Jersey to other states so you can understand whether you could be getting a better deal if you live elsewhere.
New Jersey electricity rates
One of the things many people will be interested in is how energy prices in New Jersey compare to other states. According to statistics from 2015, New Jersey is actually one of the most expensive states for energy prices. The state ranked as the tenth most expensive state for electricity. That leaves 40 more states that are cheaper for electricity prices, meaning New Jersey isn't the best value. In 2016, the state placed one place lower, at number 11. However, New Jersey energy choice does give consumers the option to find a better deal on their energy. They can compare third-party energy suppliers in New Jersey to see which ones offer them lower prices.
Several states in the US have created renewable energy portfolio standards, pledging to generate a portion of their energy from renewable sources. New Jersey has its own that will require almost a quarter of the state's net electricity sales to come from renewable sources by 2021. There are requirements for solar and wind energy, in particular. These requirements mean that energy providers in New Jersey offer a great range of renewable energy products. Customers can select a plan that provides energy that comes partly of wholly from renewable sources. Many of these products cost the same as other contracts, so it isn't more expensive to be greener.
Sources of Energy Generation
The Oyster Creek nuclear reactor in New Jersey is the oldest operating nuclear power plant in the US, having opened in 1969. It is scheduled to close in 2019, however. In 2016, nuclear power was the second biggest source of energy for New Jersey. Natural gas overtook nuclear power as the largest electricity source in 2015. Other major sources of electricity include coal and other renewables. Solar power is the largest renewable source of electricity in New Jersey since 2015. 60% of solar electricity comes from solar panels.
Comparison to Other States
The U.S. Energy Information Administration also provides information on how New Jersey's energy consumption compares to other states. The state rates at 37 out of 50 states for energy consumption per capita. Regarding spending on energy, NJ comes in at number 28. New Jersey is at 21 for total net electricity production and 36 for total energy generation.
These statistics on New Jersey energy consumption and generation are useful to know if you want to understand energy prices and providers in the state.