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

The legislation aims to encourage the adoption of energy-efficient products by making them more financially accessible to consumers. By ensuring a minimum rebate percentage, the bill seeks to promote energy conservation and reduce overall energy consumption in residential settings. The act is set to take effect immediately upon passage.