Millions of $$$ in Rebates Still on the Table for Energy Projects

"You can’t run fast enough to get these benefits," said Joseph Szabo, Managing Director of Global Operations for Tishman Speyer Properties, referring to Con Edison’s Demand Management Program at BOMA/NY’s April 9th Energy Action Day.

Joe delivered those remarks while at the podium detailing how his firm was able to use Con Edison funding for ice manufacturing, which, when bundled with upgrades of equipment and the BMS, achieved substantial project funding and energy usage savings. Referring to the program, which features rebates from Con Edison and NYSERDA, he called it a "once in a lifetime opportunity" for capitalizing upgrades and improvements.

Other seminar panelists also reported on their project savings, including one project, where the annual energy savings were $1.5 million a year, and the initial $9 million project cost payback period shrank from 5 to 1.9 years as a result of Demand Management Program incentives.

As reported in BOMAfacts and as presented at the 2014 Energy Action Day, the Demand Response Program is providing rebates valued at up to $285 million through the end of next year. Speaking at the seminar, Con Edison’s Dave Pospisil reported that the program is well underway, but millions in rebates are still available. Click here to obtain more information today.

Here are the latest program highlights as reported by Con Edison at Energy Action Day and illustrated in the charts below.

>Applications: Out of the 339 received, 214 have been approved, 105 are still being processed and only 20 were rejected

>Incentives: $2.55 million has been paid to completed projects, with $66 million set aside for approved projects

>Peak Demand Reductions: 2.10 MW in reductions have been achieved on completed projects; 58 MW has been approved for projects underway but not yet completed

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