Orion Energy Systems, Inc., a designer and U.S. manufacturer of energy-efficient LED lighting products, announced today the receipt of award notifications to retrofit three U.S. Government facilities with Orion’s LED lighting systems. Orion expects to record at least $1.4 million in revenue from these awards over the balance of its fiscal 2018 year ending March 31, 2018.
Orion is replacing legacy lighting systems at the government facilities with its energy-efficient LED lighting platforms and controls, in support of the customer’s environmental and energy efficiency goals. The customer expects to reduce its annual lighting energy usage by approximately 70%, providing savings that should allow the full recoupment of all project costs in just a few years. The awards follow several projects completed for this government entity over the past few years. Orion anticipates additional retrofit opportunities from this customer in future periods.
Orion CEO, Mike Altschaefl, commented, “We are proud to serve our country and build upon past work with this valued, long-time U.S. government customer. These awards confirm the strength of our product platform, design, features and value proposition – factors that are resonating with a growing base of new and existing customers.”
Lighting the Way
Energy efficient LED lighting is gaining more traction among public and private companies and organizations wishing to save on electricity costs and reduce their burden on the grid.
In October, Officials in West Haven, Connecticut, announced the town will save $338,000 per year in electrical costs as a result of switching to LED street lights. United Illuminating, an electric distribution company, is replacing the existing high-pressure sodium streetlights — at no cost to the city — to provide a more energy-efficient, cost-effective product.
And in September it was announced that the global market for LEDs will increase at a compound annual growth rate of more than 18% this year until 2021, the market research firm Technavio forecasts. At that rate, the market would go from $18.51 billion in 2016 to $43.18 billion in 2021, Semiconductor Today reported.
For their analysis, Technavio divided the LED products into main two segments: lamps and fixtures, also called luminaires. The advantages of LED fixtures such as energy-efficiency, long lifespan, and their wide usage in residential, office, and retail sectors will contribute to the growth of this market segment, according to Technavio.
Vendors mentioned in this article:
- Orion Energy Systems, Inc.
- United Illuminating
We are accepting submissions for the 2018 Energy Manager Today Product and Project Awards. The final deadline is December 15, 2017. Learn more here.