Green and Save offers a case study of a commercial portfolio’s LED retrofit in New York City that cut costs by 74 percent.
Newmark Holdings’ project covered different common areas and existing lighting across the 10 million square feet of 24 properties under management. The LED fixtures, lamps and retrofits that were installed in the buildings required thousands of hours of auditing, manufacturing, rebate administration and logistics by contractor Independence Lighting.
The cost of the project will surpass $10 million during the 10-year warrantee life of the products. ConEdison gave Newmark incentives that will provide ROI of more than 65 percent and payback of less than 18 months. About 3.7 million kWh will be saved annually and carbon dioxide emissions will be cut by 50 million pounds during the next decade.
This week, the Brooklyn Navy Yard, a commercial center in New York City, dedicated a project featuring 3,152 rooftop solar panels.