During the next 10 years, Sprint expects to save approximately $15 million with the implementation of a new Retail Energy Management (REM) system. The system, which has been installed in more than 1,000 Sprint retail stores to date, is expected to reduce Sprint’s retail energy costs by 15 percent, a $1.5 million annual savings, an 18-month payback on the program.
The system will enable a Web-based energy management system that can remotely control heating, ventilation and air conditioning (HVAC). Ultimately, the new system should reduce Sprint’s monthly spend on electricity and natural gas and enable more energy efficient operations.
The expected reduction in utility costs and bottom-line benefits are complemented by the positive effect on the environment and reduction in greenhouse gasses. The environmental impact is often measured as CO2 produced or fossil fuels burned. By controlling mechanical systems through the new REM system, Sprint estimates it will reduce its electrical usage by 11 million kilowatt hours (kWh) per year.
According to the U.S. Energy Information Administration, to generate 11 million kWh of electricity, a power plant would need to burn 5,830 tons of coal or 880,000 gallons of oil. In effect, the energy savings achieved will allow Sprint to reduce its carbon footprint by more than 17 million pounds of CO2. According to the U.S. EPA Greenhouse Gas Equivalencies Calculator, that’s the same amount generated by electricity use in 422 single-family U.S. homes in one year.Other projected REM system benefits include:
- Reduction in response time for HVAC reported issues. The REM System can identify mechanical issues before they affect our retail locations.
- Reduction of maintenance costs and reduced time on site for maintenance technicians.
- Sprint will also implement a proactive unit replacement plan based on unit efficiency.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV