News: Owners Developers & Managers

Twelve fascinating facts about lighting upgrades

The new year offers a great opportunity to significantly reduce your facility's energy consumption and costs and benefit the environment by investing in an energy-efficient lighting upgrade. For instance, did you know....? *According to the EPA, lighting accounts for as much as 30-40% of the electricity used in the typical commercial building. *The nation's 4-5 million commercial, industrial, and institutional buildings spend over $35 billion a year in electricity bills to operate their lighting systems alone. *Nearly 90% of the total cost to run a fluorescent lamp over its lifetime is accounted for by the electricity to operate it (product and maintenance costs amount to less than 15%). *A recent Energy Cost Savings Council analysis of over 1,000 upgrade projects conducted nationwide found that energy-efficient lighting upgrades routinely pay themselves back within 2-3 years, delivering 30-50% returns on investment. *Research shows that upgrades involving a comprehensive range of technologies - including lighting, HVAC, etc. - can save facilities up to $1 per square foot in energy costs. *Experts estimate that up to a third of the nation's electricity requirements could be met through "demand-side management" measures - activities that reduce energy consumption or modify patterns of usage (such as the installation of energy-efficient lighting products). *According to a study conducted by the Association of Lighting Management Companies (NALMCO), you can save up to 10% or more on lighting costs simply by cleaning lighting fixtures regularly (as dirt accumulation accelerates light loss). *As part of their efforts to promote energy conservation, utilities often encourage the use of energy-efficient lighting products by offering end users rebates on the purchase of these items. Check with your local utility to find out about cash incentives that may be available on the purchase of energy-efficient lamps, ballasts, and/or lighting controls. *Studies show that improvements in the average office lighting system can make employees over 1 hour more productive per week - resulting in 3-5% gains in employee productivity. *A recent national survey of chief financial officers found that the majority was either "satisfied" or "very satisfied" with the results of lighting upgrades they had managed or overseen in their facilities. The upgrades they witnessed had overwhelmingly delivered the energy and cost savings promised. *The 3,000 - 4,000 organizations which are part of the EPA's voluntary Energy Star Buildings Program have cumulatively saved over $3 billion in energy bills and prevented more than 50 billion pounds of carbon dioxide from being released into the atmosphere as a result of the upgrades (largely lighting-related) they have undertaken. In ecological terms, this is equivalent to the removal of over 2 million cars from U.S. roads or the planting of 2-3 million trees annually. *There are several hundred energy service providers (ESCOs) nationwide who can perform a low-cost or no-cost facility audit and manage an energy-efficient lighting upgrade. Many can assist with project financing or will agree to be paid out of the guaranteed cost savings. Contact your local utility to be connected with a skilled technician within the utility or to get assistance in locating the nearest ESCO. Start off the new year by capitalizing on the tremendous financial, environmental, and aesthetic benefits that an energy-efficient lighting upgrade can offer your facility....and be aware that your upgrade could further qualify for tax deduction opportunities through the Energy Policy Act of 2005 and other recent legislation! For a free upgrade guide, contact Susan Bloom at susan.bloom@philips.com. Susan Bloom is director of corporate communications for Philips Lighting & Advance
READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary