The energy efficiency project has been demonstrating an 83% reduction in energy and maintenance costs.
(New York, New York – July 14, 2015) Pemco & Co., LLC, a leading investor and developer of energy efficiency projects, announced today the completion of a lighting upgrade at Strada 315 Condominium in Ft. Lauderdale, Florida. The project consisted of the financing, installation, and management of facility-wide LED lighting upgrades and real-time energy monitoring aimed at reducing costs, improving energy efficiency, and increasing cash flow for the property.
The project, which was installed in fewer than 30 days, has been demonstrating an 83% reduction in energy and maintenance costs.
“The Strada 315 Condominium project is one we are particularly proud of because it offers value to stakeholders at multiple levels,” said Josh Heald, Pemco Holdings CEO. “The property management company and the condominium association are both able to show efficiencies in the operation and maintenance of the building, offer more information regarding energy use to unit owners, and improve the building’s P&L statement and cash flow. Unit owners benefit from reduced assessment fees, improved common area aesthetics, and increased property values.”
“Pemco’s team promptly delivered what they promised,” said Milt Leidig, Community Association Manager at Strada 315 Condominium Association, Inc. “In less than 30 days they installed a system that has reduced our lighting energy use by 55%. We avoided capital outlay by sharing those savings with Pemco. It’s a very beneficial result for our residents, for Pemco and for us.”
In total, 951 of the building’s light fixtures were upgraded from old lighting technology to LED fixtures, and a real time energy monitoring system was installed to provide ongoing, real-time data on the building’s energy use and savings.
Pemco & Co. is a business unit of Pemco Holdings, LLC, and invests in institutional, commercial, and municipal energy efficiency projects that reduce costs and improve asset value. We finance energy conservation measures using our shared savings contract that requires no upfront capital from the customer.
Our high quality network of contractors, engineers, and consultants, audit, design, install, monitor, and maintain projects over the contract term. Pemco and its customers share savings. Clients range from municipalities and school districts to hotel chains and auto dealers.
Visit Pemco’s property solutions page for more information.
Media Contact: Victoria Osorio, i-media-international, victoria [at] i-media-international.com, or 212-537-9080.