MT. CLEMENS — The Mt. Clemens-based energy-efficient lighting provider Clean Light Green Light Tuesday announced a new energy savings program being introduced through the company’s partnership with a private equity firm.
This new Shared Savings program will be limited to five installations during what the company is calling a pilot program.
The program gives Clean Light Green Light customers the ability to pay for the cost of energy-efficient lighting and the cost of installation with no out-of-pocket costs.
Clean Light Green Light’s energy-efficient LED lighting creates a savings of 40 to 65 percent when compared with traditional lighting. The company said about 30 percent of electric usage in most American building is used by lighting.
Besides its zero out-of-pocket-cost advantage, the projects will create a new stream of revenue. Maintenance costs are also included.
Most contracts under the program are 30 to 60 months, with ownership reverting to the customer at the end of the term.
Requirements to participate in the program include the following:
* Good credit standing of the facility wanting to upgrade
* Operating in business for more than three years * Audit completed and verified by a CLGL representative
* Must have a payback period of under 30 months for labor and lighting costs. CLGL says it will consider certain projects that fall over the 30 month mark on an individual basis.
* Must use CLGL LED products for the retrofits
* Minimum project cost of $50,000 in labor and materials.
Clean Light Green Light also has preferred target markets for the installations. These are parking garages, 24-hour businesses like hospitals, grocery stores and jails, industrial facilities and high-use municipal structures.
Clean Light Green Light said it also has other financing alternatives, including a new Green Leasing Program for projects of at least $5,000.
Any inquires under any of the company’s programs should be emailed to email@example.com.