As energy prices trend higher, municipalities and corporations alike are committed to finding solutions to reduce energy-related operating costs. As a municipality, Street lights are the largest percentage of their energy budget, are extremely costly to maintain and are a drain on liquidity. Corporations are scrambling to cut costs in general to get back to profitability and a main culprit is energy.
1) MHT’s Energy Management Program (EMP)
The Energy Management Program starts with the corporation or municipality completing a questionnaire to determine the savings and to assist MHT in customizing a program. Once a program is customized and approved, MHT will begin the process of replacing the current fixtures with its own energy efficient Induction lighting products. Induction Lighting is becoming the leading technology for energy efficient lighting projects due to its quality white-light, low upfront cost compared to other technology, dependability and very long life.
The parameters of the EMP are between $1-$50 million and require a certain degree of energy savings to be achieved. When implemented, the program will eliminate installation costs, maintenance expenses, will result in an immediate reduction of the end-user’s energy bill and will be beneficial to the environment.
2) MHT’s Competitive Financing Options
MHT will offer very competitive financing options with a credit rating of an A or B. Interest rates will be determined by current market rates but currently municipalities can see rates between 4.25% and 6.5% and corporations will range between 6.5% and 7.5%, depending on dollar amount. Large volume discounts are available depending on quantity which will further drive the cost down. Many municipalities were looking at federal and state financing programs that had rates are 3 percent, however, much of that funding has dried up since so many of the stimulus projects have been completed.
MHT Lighting is also recognized by the DOE as meeting the “Buy American” requirements and this financing can be coupled with funds received from the ARRA.
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