Lime Energy Co. (NASDAQ: LIME) announced today that the company has successfully completed over 16,000 energy efficiency upgrades to small businesses through its innovative Small Business Direct Install (SBDI) model since 2010. These 16,000 projects have resulted in over $40 million in annual energy savings for small business owners, while delivering over 400,000 megawatt-hours of energy efficiency to our utility clients. That is equivalent to powering nearly 37,000 homes for an entire year.
Lime Energy’s SBDI model is currently deployed in the utility territories of seven of the nation’s leading utilities, across six states, serving small and medium businesses. The model has driven unprecedented levels of energy efficiency upgrades by small businesses – such as pizzerias, laundromats and auto service shops - traditionally considered one of the hardest to reach market segments. Lime Energy’s ability to simultaneously provide cost effective energy efficiency resources to utility clients and an attractive value proposition to their small business customers, is the result of several innovative advancements to the traditional direct install program model, advancements that were years in the making.
Lime Energy’s Integrated Services Model (ISM) and proprietary, web-based technology platform have automated multiple program elements such as program design, outreach, auditing, implementation and reporting. Utilities can now deliver energy efficiency at scale and with high confidence to customers that were previously seen as too expensive to reach. According to the US Department of Energy, 93% of the US commercial building stock is small buildings. These small buildings account for 43% of the commercial building electricity consumption and almost 49% of the electricity expenditures.
“The small business segment represents a huge opportunity for utilities to significantly reduce electricity demand and usage,” said Adam Procell, Lime Energy’s President and Chief Executive Officer. “We believe that this opportunity calls for – and warrants - the development of tools and processes to break down traditional barriers to participation in energy efficiency programs. The success of our programs and of our utility clients is proving that this can be done.”