Innovative Direct Install Model Allows Utilities to Deliver Energy Efficiency at Scale to Small Businesses
HUNTERSVILLE, NC, May 2, 2014 – Lime Energy Co. (NASDAQ: LIME) announced today that the company has successfully completed over 16,000 energy efficiency upgrades to small businesses through its innovative Small Business Direct Install (SBDI) model since 2010. These 16,000 projects have resulted in over $40 million in annual energy savings for small business owners, while delivering over 400,000 megawatt-hours of energy efficiency to our utility clients. That is equivalent to powering nearly 37,000 homes for an entire year.
Lime Energy’s SBDI model is currently deployed in the utility territories of seven of the nation’s leading utilities, across six states, serving small and medium businesses. The model has driven unprecedented levels of energy efficiency upgrades by small businesses – such as pizzerias, laundromats and auto service shops – traditionally considered one of the hardest to reach market segments. Lime Energy’s ability to simultaneously provide cost effective energy efficiency resources to utility clients and an attractive value proposition to their small business customers, is the result of several innovative advancements to the traditional direct install program model, advancements that were years in the making.
Lime Energy’s Integrated Services Model (ISM) and proprietary, web-based technology platform have automated multiple program elements such as program design, outreach, auditing, implementation and reporting. Utilities can now deliver energy efficiency at scale and with high confidence to customers that were previously seen as too expensive to reach. According to the US Department of Energy, 93% of the US commercial building stock is small buildings. These small buildings account for 43% of the commercial building electricity consumption and almost 49% of the electricity expenditures.
“The small business segment represents a huge opportunity for utilities to significantly reduce electricity demand and usage,” said Adam Procell, Lime Energy’s President and Chief Executive Officer. “We believe that this opportunity calls for – and warrants – the development of tools and processes to break down traditional barriers to participation in energy efficiency programs. The success of our programs and of our utility clients is proving that this can be done.”
Lime Energy recently received the Super Nova Star of Energy Efficiency Award from the Alliance to Save Energy for its innovative program design and approach to delivering energy efficiency to small business customers. The award cited the high customer participation rates that Lime Energy has driven with their approach to the small business segment, combining customer data analytics, strong customer engagement practices, energy engineering and project implementation expertise.
About Lime Energy Co.
Lime Energy is building a new energy future. As a leading national provider of energy efficiency for utilities’ small business customers, Lime designs and implements direct install programs for our utility clients which have consistently exceeded 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.
Lime Energy Investor Relations
This news 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 Lime in Lime Energy’s subsequent SEC filings; such factors are incorporated herein by reference.