Con Edison ups its investment in clean energy and energy efficiency

Con Edison will invest more than $1.5 billion in energy efficiency programs by 2025, tripling its funding for these programs, Con Edison Chairman and CEO John McAvoy said at the company’s recent virtual shareholders meeting.

Also, McAvoy said the company, which serves customers in New York City and parts of New York State, is committed to clean energy alternatives, helping customers reduce their reliance on natural gas with incentives for ground and air-source heat pumps, and supporting electric vehicle adoption.

“I believe one of the keys to rebuilding our communities and boosting the economy is maintaining our focus on clean energy,” McAvoy said. “We’re building tomorrow’s grid so that it stands up to climate change and so that it can integrate renewable energy resources like solar and wind.”

McAvoy said Con Edison is the second-largest solar producer in North America and seventh-largest in the world. He added that letting utilities own large-scale solar and wind farms would help the city and state achieve their climate goals.

He also discussed the company’s efforts during the pandemic to protect its workers and customers. McAvoy said that employees are wearing face coverings, working remotely, and practicing social distancing.

“In the best and worst of times, our successes stem from the extraordinary women and men of Con Edison,” he said. “They are the drivers of our achievement and accomplishments.”

Con Edison has contributed more than $300,000 to nonprofit organizations to help feed New Yorkers, including $50,000 to the NYC Healthcare Heroes Fund and $40,000 to assist local police and fire departments and USO foundations. It also donated nearly 100,000 N95 masks for health-care workers. Further, employees have contributed more than $100,000 to various groups since March 1 with those donations matched by Con Edison.

“This is the time to build better and deeper relationships with our customers and assure them we will help them through this crisis,” McAvoy said. “We are alleviating some of their anxieties about the economic fallout of the pandemic. We’ve promised our customers that no one will lose service for failure to pay now, offered tips to conserve energy, and alerted them of COVID-related scams.”