Presented By: Con Edison
How Con Edison Helps Companies Meet Their Office’s ESG Goals And Save Money
Con Edison is proud to be a partner of Commercial Observer's IMPACT Series.
By Con Edison March 10, 2023 10:30 amreprints
Developers, sustainability managers, property managers and others wrestled with the demands of ESG-based sustainability programs , seeking the most eco-friendly solutions for office spaces while also requiring manageable – or, hopefully, diminished – costs.
To that end, Con Edison has introduced a program that will benefit every company’s ESG strategy. The company’s new Instant Lighting Incentive Program (ILIP) allows a company to replace incandescent, halogen, or fluorescent lighting with energy-efficient LED lights, providing tremendous savings for the environment and the company’s bottom line.
Partner Insights spoke with Nikole DiPillo, ILIP Program Manager at Con Edison, to learn how companies can take advantage of the program, and what sort of benefits they can derive from it.
Commercial Observer: What exactly is the Instant Lighting program?
Nikole DiPillo: The Instant Lighting Incentive Program, or ILIP, offers point-of-purchase discounts on qualified ENERGY STAR® rated and DLC-listed measures – including lamps, fixtures, and retrofit kits – when purchased from an approved participating contractor (PC) or distributor. Customers purchase the material at a discount and install it at their Con Edison account location. They do not need to submit any paperwork to receive their instant discounts. The PCs submit qualified sales through our Distributor Portal for reimbursement, and the reimbursements are then issued after the installations pass an inspection.. The program makes energy-efficient lighting affordable for customers, saving them money over the lifetime of the products, and all while supporting participating contractors.
Who are the commercial real estate decision makers that need to know about this program?
Sustainability managers, building and property managers, engineers, and any maintenance staff responsible for purchasing decisions.
Why is LED lighting more beneficial for companies and corporate clients than other types?
LED lighting offers many advantages. First, it’s incredibly versatile. It comes in a wide range of colors, temperatures, and brightness, so that companies can fully customize their spaces. LED lighting is also better for productivity than the lights they’re replacing. The lower heat emissions and brighter light reduce eye strain, creating a more comfortable working environment. LED lighting lasts 10 times longer than other types and uses up to 90 percent less energy than standard lighting models. LED lighting helps companies save energy and significantly lower costs for years to come.
Exactly how much money can customers expect to save with Instant Lighting?
By participating in the ILIP program, customers save money two ways. On average, they save 80 percent off the retail price of eligible products immediately upon purchase. Then, they reduce their energy costs by up to 90 percent because LEDs are so efficient..
Are there other advantages?
By installing energy-efficient lighting equipment, companies show their commitment to sustainability. Here in New York, ILIP provides customers with an affordable way to help buildings comply with Local Law 97, which has strict, exacting requirements for energy efficiency and the reduction of greenhouse gas emissions.
Even with the savings you’ve mentioned, how involved and costly is it for a company to switch out all its lighting for a different kind?
Material costs and savings vary depending on the size and scope of each project. There are no minimum or maximum requirements in terms of project size. However, material can only be incentivized once, and customers cannot receive incentives from ILIP if they have been incentivized by another Con Edison Energy Efficiency Program, such as our Small-Medium Business Program or our Commercial & Industrial Program.
How do LED lights serve as part of a company’s total ESG strategy?
Many companies have aggressive ESG goals in order to installing other energy efficient equipment, companies can make significant strides towards reducing their overall carbon footprint.
How does Con Edison work with customers to help them make this change?
In addition to providing our customers with incentives to reduce installation costs, we offer a streamlined process. There is no paperwork or applications, no pre-inspection or engineering analysis requirement. Customers simply purchase the measures at a discount, install them, and start reaping the benefits of energy efficient LEDs!
Can you provide an example or two of the kind of clients you have signed up for this program, and the savings they enjoy from this?
We’ve provided incentives for a wide array of customers, ranging from small businesses and commercial customers to multifamily buildings. Here are a few examples.
Flushing Hospital Medical Center, a 293-bed teaching hospital in Queens, installed LED lighting throughout the building, including in the clinics, patient rooms, lobby, stairwells, bathrooms , hallways and more. The project cost just under $125,000, but the hospital got a a Con Edison rebate of $20,823. The new lighting produced an annual energy savings of just over $57,000, which means they recouped their investment in two years. Longer term, the investment produced an ROI of 64%, for a ten-year savings of $569,589.
Here’s another example: Silverette Realty Management Co., LLC, is a 100,000-square-foot office building in Westchester County that installed energy-efficient LED lamps throughout the building at a cost of just over $60,000. In addition to lowering the building’s cooling and maintenance costs, this lowered the building’s overall energy costs by 60 percent. The building earned its investment back in less than a year and saved 189,000 kilowatt hours (kWh) a year. The building owners now enjoy an annual lighting cost savings of $28,300 and have reduced their carbon dioxide emissions by 195,000 pounds.
In 2022 we have paid $2.9 million in incentives for a total of 22, 621 mWh in energy savings. Since the program’s inception in March 2018, we’ve paid $20.7 million in incentives, a total over 200,000 mWh in energy savings. The program’s lifetime savings is equivalent to carbon sequestered by 179,645 acres of U.S. Forest in one year, or 16.2 million in CO2 emitted by gasoline consumed.
Con Edison is proud to be a part of Commercial Observer’s IMPACT Series. As leaders in the energy industry, we’re committed to advancing kickstarting pressing conversations surrounding climate change and building out more sustainable communities.