The successful project, which was developed without upfront costs to the group, is already performing beyond projections.
(New York, NY – September 22, 2015) Pemco & Co., a leading investor and developer of energy efficiency projects, successfully completed a lighting and energy efficiency upgrade across a group of 10 retail auto dealership locations in the Northeast. The project consisted of upgrading aging and inefficient lighting equipment with new technology that included LED fixtures and controls. Pemco set aggressive goals to reduce costs, improve showroom aesthetics, optimize energy efficiency, and upgrade outdated technology without upfront costs to the group. The successful program, which was initiated in January 2014 and completed in all 10 locations by December, is performing beyond projections.
The project team, made up of Pemco & Co. and its network partners, developed and deployed a turnkey solution that included:
- Upgrading indoor and outdoor LED lighting across 10 strategic locations
- Securing utility rebates for every location
- Custom retrofits for external architectural car lot fixtures
Seeking to optimize energy cost reduction and cash flow opportunities for each of their retail auto dealership locations, the automotive group used Pemco’s shared savings model. The model allowed them to deploy state-of-the-art technology and leverage the latest in energy efficiency and lighting innovation, without upfront costs.
Figures for the first six months show reduced energy costs by 38%, enhanced lighting intensity and uniformity, and accelerated sales growth. Additionally, customer feedback has indicated an improved showroom appearance and a more modern and aesthetically pleasing automotive shopping environment.
“The efficiencies and improvements produced by this program are already having a positive impact on our client’s bottom line,” said Josh Heald, Pemco Holdings’ CEO. “Better lighting has improved safety and aesthetics, contributing to higher sales and revenue, while more efficient technology has reduced costs, and thus, improved profitability. For an auto dealership, increasing profitability and improving the customer experience are at the crux of their success. With this initiative our client has successfully achieved both.”
Media Contact: Victoria Osorio, i-media-international, victoria [at] i-media-international.com, or 212-537-9080.