gets six-figure rebate for reducing its electric bill
Aug. 24, 2010
LOUISVILLE, Ky. – The University of Louisville has earned a $373,000 cash incentive from Louisville Gas and Electric Co. for reducing its electricity consumption.
UofL is receiving the money through a Commercial Rebate Program offered by LG&E and Kentucky Utilities that encourages qualified customers to replace aging, less efficient equipment.
The university’s electric bill has dropped about 23 percent due to an energy-saving project UofL launched last fall with Siemens Industry Inc.’s Building Technologies Division. The project promises to save some $30 million in energy costs on Belknap Campus by 2024.
UofL and Siemens soon will begin a similar effort to save energy on the university’s other two campuses, the Health Sciences Center and Shelby Campus, and at ShelbyHurst Research and Office Park.
“About two years ago, we got serious about reducing our carbon footprint,” said UofL President James Ramsey. “Now we’re starting to see results, and this rebate shows we’re on the right path.”
Installing energy-efficient lighting in about 70 buildings, including Ekstrom Library, the Swain Student Activities Center and Brandeis School of Law, generated more than $200,000 of the rebate. Most of the rest came from switching to more efficient motors, motor controls and pumps.
UofL will use the rebate to help offset the costs of making energy-saving improvements.
“We consider UofL’s rebate a twofold success that can serve as a model for our other commercial customers,” said Chris Hermann, senior vice president of energy delivery for E.ON U.S., LG&E’s parent company. “Not only will the university see the immediate financial benefit of our rebate program, but the improvements it has made will pay dividends for years to come.”
LG&E and Kentucky Utilities launched the commercial rebate program in 2008 and will continue offering it at least through 2014.
For more information on UofL’s energy audit, see http://louisville.edu/energysavings/
For more information on LG&E’s rebate program, see www.eon-us.com/rebate