March 28, 2003—St. Andrews Presbyterian College has teamed with Pepco Energy Services to reduce energy costs on its Laurinburg campus while dramatically improving lighting quality in all of its buildings.
The $500,000 project, which will save the college more than $112,000 annually, involves retrofitting the existing light fixtures in every building with energy efficient technology. Work began in January of 2003 and is expected to take three months to complete.
St. Andrews Presbyterian College decided to implement this modernization project because it was structured in such a way that it would not impact its capital budget and it would not require an initial cash outlay. Pepco Energy Services offered the college a financing program that uses the resulting monthly energy and maintenance savings to offset the costs of repaying the investment.
“This innovative energy efficiency project can be a model for other colleges and universities,” said Ed Mayberry, president and chief executive officer of Pepco Energy Services. “Institutions of higher learning can replace and improve existing infrastructure while freeing up financial resources for other pressing academic needs.”
For more information, contact St. Andrews Presbyterian College or Pepco Energy Services.
