New partnership aims to reduce energy consumption
Albright College and Evolution Energy Partners (EEP) announce a partnership that will enable Albright College to build on a commitment to sustainability and energy conservation. Phase 1 of the partnership will include a campus-wide LED lighting upgrade. The lighting upgrade will improve light levels to enhance productivity and safety while significantly reducing Albright’s energy costs and increasing environmental sustainability.
“By partnering with EEP, Albright successfully secured the project with no upfront cost by utilizing on-bill financing, which EEP was able to negotiate with ENGIE Resources, LLC,” said Jeffrey Strader, Albright’s chief financial officer. “On-bill financing provides 100% project funding paid back through the monthly electric or gas bill,” said Strader. “In addition, EEP secured over $25,000 in utility rebates as well as $60,000 in nonprofit grants. We are excited about this project and tremendously grateful to EEP and ENGIE Resources for making it possible.”
The LED lighting upgrade will result in total annual savings exceeding $206,000 and generate more than $38,000 in net annual positive cash flow during the finance term. Implementing this project will reduce the college’s carbon footprint by more than 3.4 million pounds of CO2 annually.
“At Albright College, we are committed to environmental sustainability and we are thrilled to be partnering with Evolution Energy Partners to help us in our campus-wide sustainability efforts,” said Albright President Jacquelyn S. Fetrow, Ph.D. “As an academic institution, conserving energy and developing green initiatives are not only critical to our operations, but to the overall educational experience of our students as well. Showing our students how critical environmentally sustainable strategies are and engaging them in that process is an important part of the academic journey,” Fetrow said.
Rick O’Leary, Albright director of facilities added, “Reducing our energy consumption and costs through this project without incurring any upfront costs, thanks to the agreement with ENGIE Resources, will have a significant impact on campus operations overall. We look forward to continuing this partnership and to looking at additional ways in which we can reduce Albright’s energy consumption and carbon footprint.”
“Albright has a keen vision on creating sustainable operations, and in doing so, EEP was able to define ways to help Albright preserve capital and drive cost savings through the conservation of energy,” said Chuck Hurchalla, president of EEP. “Educational institutions can use this project and future projects at Albright as a roadmap to reaching sustainability goals.”
Albright and EEP will continue to work in partnership to reduce energy consumption and drive Albright’s commitment to sustainability. Further energy conservation methods will be discussed and implemented during EEP’s continuous evaluation of Albright’s campus operations.
Evolution Energy Partners is a full-service energy management, engineering, and consulting firm offering best-in-class sustainability, energy efficiency, procurement, and analytical solutions. Our goal is to build solutions that decrease our client’s carbon footprint through effective energy management and increased efficiency while maximizing savings to the organization. Evolution Energy Partners customers enjoy positive impact on the bottom line by leveraging a comprehensive suite of services that mitigate risk, enhance stakeholder value, and provide a foundation to increase corporate citizenship and sustainable practices.
Founded in 1856, Albright College is a diverse community of learners cultivating integrity, curiosity, connection and resilience. The college’s flexible curriculum encourages students to combine and cross majors to create individualized academic programs. Close faculty mentorship and numerous experiential learning options create opportunities for Albright graduates to exceed their own expectations. Located in Reading, Pa., Albright enrolls more than 1,800 full-time undergraduates and 700 adult learners and graduate students.