Morgan Stanley is collaborating with GE’s energy-focused startup Current to upgrade lighting at more than 600 retail branches. The companies say they expect the program to reduce lighting-related energy consumption by as much as 50% in some branches.
Current plans to work with Morgan Stanley on evaluating energy savings opportunities across the branch locations and providing a turnkey LED lighting and digital controls solution. Morgan Stanley says that the program, being done in partnership with Hines real estate management, should provide the company with enterprise-level visibility.
Lighting represents around 40% of the energy consumption for commercial buildings, GE’s Current points out. Morgan Stanley has committed to reducing the company’s energy usage by 20% by 2022 from a 2012 baseline. The retrofit is expected to start later this month and continue on a rolling basis across Morgan Stanley’s wealth management offices over the next few years.
Besides energy savings from the LEDs themselves, Current says that the program will evaluate the startup’s open wireless controls solution called Daintree. The system is designed to help smart buildings run more efficiently with increased productivity while also providing an IoT platform. If Daintree gets implemented for Morgan Stanley, it would wirelessly integrate with building sensors and devices to manage occupancy, day lighting, scheduling, thermostats, and plug loads, according to Current.
Earlier this year Walmart released the results of its own extensive lighting program with GE, which started a decade ago. It entailed the installation of more than 1.5 million LED fixtures across more than 6,000 stores, parking lots, distribution centers, and corporate offices in 10 countries. Many retail stores also use LED fixtures with Current’s TriGain technology for better product visibility. Walmart says that the lighting program reduced lighting energy consumption and costs by more than $100 million.
General Electric CEO John Flannery told shareholders in November that he plans to sell off Current in the next year or two. A spokesperson for GE said at the time that the company’s goal is to find a buyer that will help Current continue growing. A fourth-quarter financial report showed that GE moved its conventional lighting business closer to Current and began considering them one business segment.
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