Energy-Efficient Buildings Mean $1 Million In Annual Savings For Hillsborough, N.J., School DistrictMarket Watch, August 26, 2014
Honeywell today announced it is leading an energy savings improvement program for New Jersey-based Hillsborough Township Public Schools to help boost energy efficiency, reliability and comfort in the district’s facilities. When complete, the upgrades are expected to reduce the school district’s annual operating costs by approximately $1 million, while promoting a better learning environment for students and faculty.
The district will fund the program with a $1.7-million rebate available through “Pay for Performance”, a component of New Jersey’s Clean Energy Program that provides incentives for implementing whole-building energy improvements, along with a $15-million energy performance contract with Honeywell. The performance contract enables Hillsborough Township school district to address certain building infrastructure needs using the annual energy cost savings that result from the improvements. The savings are guaranteed by Honeywell, which allows the school district to tackle the work without additional capital funds or taxpayer dollars.