This bill mandates that public utilities in New Jersey provide rebates for Energy Star-rated products and appliances, ensuring that these rebates amount to no less than 20 percent of the total cost of the items. The rebates are to be part of the utilities' energy efficiency or peak demand reduction programs, which must be approved by the Board of Public Utilities.

The legislation supplements existing law, specifically P.L.2018, c.17, and aims to promote energy-efficient products by making them more financially accessible to consumers through substantial rebates. The bill is set to take effect immediately upon enactment.