Case Study: How One Company Slashed Lighting Costs By 70 Percent
Electronic Products: Saved thousands by better managing their energy spend over time
The way in which a company manages their energy spend can have an impact on their bottom line. If the correct plans are not put into place, unfortunately this impact can be a negative one. Therefore, it is important to strategize on how to better manage your energy spend over time. With the proper strategy, large savings can be achieved.
Patriot Energy Group recently worked with Electronic Products, a supplier of glass to metal seal products, based in Newburyport, MA. Electronic Products was not only looking to save on their energy costs, but also aesthetically improve their building. Patriot Energy Group evaluated the company’s energy purchasing program and existing equipment, and developed a strategy that had yielded significant monthly savings.
Patriot Energy Group partnered with Energy Source, a turnkey provider of energy conservation measures, to conduct a no-cost energy audit, and found that the facility had outdated, inefficient lighting. The existing lighting was also costly, contributing to about $21,000 of their total annual electric bill.
By upgrading the lighting, the overall appearance of the production floor and office spaces improved drastically and created a brighter, more productive environment. From an energy savings standpoint, Electronic Products reduced their annual lighting cost by about 70% – from a hefty $21,000 to just $5,500.
As part of the project, Energy Source was also able to secure a utility incentive on Electronic Product’s behalf. As a result, the utility paid for 70% of this project. Through the same program, Electronic Products paid for the project without using any upfront capital, financed right on the utility bill for 24 months at 0% interest.
With this upgrade, Electronic Products is saving $1,150 a month, which is money that can now be used towards growing the business.
Talk to a Patriot Energy Group expert today to find out how your company can tap into similar programs, saving thousands by trimming down your energy usage.