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Lime Energy Co. (NASDAQ: LIME) announced today the award of a two year contract valued at approximately $22 million by National Grid for the implementation of their Small Business Direct Install Program for the Western New York Region. The program serves small commercial customers with annual demand of less than 100 kW and helps to offset the cost of implementing energy efficiency upgrades. The program will provide an estimated $15 million in incentives to National Grid customers, and has the potential to save participating small businesses over 77,000 megawatt-hours of annual energy usage – significantly lowering the cost of doing business in New York.
National Grid serves approximately 600,000 residential, commercial and industrial counties in large portions of the ten Western New York counties. Launched in 2009 in response to the State’s Energy Efficiency Portfolio Standard (EEPS), aimed at reducing by 15% of energy usage statewide by 2015, National Grid’s Small Business Program has been a major contributor to the EEPS initiative thanks to the success that Lime and National Grid have shared. The program is one of the most ambitious SBDI programs ever undertaken.
Lime Energy, the leading provider of energy efficiency to small businesses, has been the exclusive provider of comprehensive energy efficiency upgrades for this program in Western New York since 2009. In that time, we have helped more than 6,000 National Grid customers lower their energy costs while upgrading their facilities, delivering over $33 million in incentives to cover project costs. We have consistently exceeded the program savings goals and delivered over 150,000 megawatt hours of energy efficiency resources, which is equivalent to powering almost 16,000 homes for one year. The program has created training opportunities and green jobs which continue to employ many workers displaced from other failing sectors of the economy.
“Lime Energy is excited to continue our commitment to assist small businesses in Western New York while playing a significant role in the State’s Energy Efficiency Portfolio Standard,” said John O’Rourke, President & CEO of Lime Energy. “National Grid has been a terrific partner and leader in energy efficiency. This award demonstrates our clients’ continued confidence in Lime Energy’s ability to deliver reliable and cost effective energy efficiency for small businesses.”