Woodbridge, NJ, March 2, 2016– Lime Energy Co. (NASDAQ: LIME)—In letters delivered to governors around the country today, Lime Energy and other business leaders are urging states to enact, renew and strengthen energy efficiency policies and initiatives that will create local jobs, improve local economies, reduce pollution, improve electrical grid resiliency and assist in meeting Clean Power Plan goals.
Even with the Supreme Court’s recent stay of the Clean Power Plan, the electric power sector is already evolving toward a cleaner, more efficient energy system. Dozens of companies and organizations signed today’s letters, calling for maximizing investments in energy efficiency. The letters are accompanied by state fact sheets showing how common energy-efficiency policies can help Clean Power Plan compliance goals, all while saving customers money and growing state economies.
“We are ready to work with you and your state officials to ensure that efforts to reduce emissions via the Clean Power Plan or any other means are as cost effective as possible,” the letter from businesses says. Energy efficiency is the best option to sustain local jobs and reduce emissions under the Clean Power Plan, and the most direct way to manage consumers’ electricity bills.
Lime Energy, the Alliance to Save Energy (ASE) and the American Council for an Energy Efficient Economy (ACEEE) have all weighed in on the recent stay and the importance of energy efficiency in the Clean Power Plan. “Energy efficiency simply works; it’s been tested and is ready to deploy now,” said Alliance to Save Energy senior vice president of policy and research, Kelly Speakes-Backman. “Cutting energy waste, creating jobs that can’t be exported, reducing consumer and business costs and supporting reliability of the grid all make common sense – all while improving our air quality.”
“State power planning goes way beyond carbon pollution,” said Sara Hayes, senior manager and researcher for air and climate policy at the American Council for an Energy Efficient Economy. “State regulators are also on the hook to reduce sulfur dioxide, mercury, nitrogen oxides and other pollutants. They are facing water shortages and trying to maintain grid reliability while keeping electricity affordable. Including energy efficiency in state planning demonstrates an awareness of the current electricity landscape and foresight of the issues to come.”
“We know that energy efficiency is the easiest and cheapest way to reduce emissions—it works, it’s been tested, and it’s ready to deploy now,” said Adam Procell, President and CEO of Lime Energy. “Especially for small businesses, there are about 28,000,000 across the nation who need to be served with convenient services to lower energy costs, improve operations, and put more dollars into the local economy. The foundation of any state energy plan should begin with small business, the fastest growing sector at the heart of every community.”
Lime Energy works across the country empowering local energy contractors to help small businesses in their community become more energy efficient and sustainable. In the last five (5) years alone, Lime Energy has originated and installed nearly one hundred thousand (100,000) energy efficiency projects. These projects have delivered over 1 million megawatt-hours (“MWhs”) of demand-side energy efficiency resources to the grid and saved the small businesses that anchor our communities more than $1 billion, fostering local economic growth and stability.
Today, every state has some experience delivering energy efficiency programs administered by utilities and the private sector. These programs have been moderately successful and can be expanded significantly to bring greater equity to ratepayers. Lime Energy is working to address market transformation to help spread efficiency resources to greater portions of commercial building populations. This will deliver the quickest and cheapest means to meet electricity demand, cut energy waste, assist low-and-moderate income populations and improve air quality.
“Regardless of the state strategy with respect to the Clean Power Plan and other energy policies, energy efficiency deserves to be examined closely as part of our energy future,” said Procell. “Cutting energy waste, creating jobs that can’t be exported, and reducing consumer costs makes sense and saves dollars.”
About Lime Energy Co.
Lime Energy is building a new energy future. As a leading national provider of energy efficiency for small business customers, Lime designs and implements direct install programs for our utility clients which consistently exceed program savings goals. Our award-winning, integrated services programs provide utilities with reliable energy efficiency resources while delivering the highest levels of customer satisfaction. This next generation approach is helping utilities across the country to go deeper and broader with the cheapest, cleanest and fastest energy resource that we have – energy efficiency.
This press release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements that reflect Lime Energy’s current expectations about its future results, performance, prospects and opportunities. Lime Energy has tried to identify these forward-looking statements by using words and phrases such as “may,” “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plan,” “should,” “typical,” “preliminary,” “hope,” or similar expressions. These forward-looking statements are based on information currently available to Lime Energy and are subject to a number of risks, uncertainties and other factors that could cause Lime Energy’s actual results, performance, prospects or opportunities in the remainder of 2014 and beyond to differ materially from those expressed in, or implied by, these forward-looking statements. These risks and uncertainties are described in Lime Energy’s most recent Annual Report on Form 10-K or as may be described from time to time in Lime Energy’s subsequent SEC filings; such factors are incorporated herein by reference.
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