Jacksonville, Fla. -- Regency Centers has reduced its energy consumption since 2010 by 3.4 million kilowatt-hours. The installation of networked lighting controls at 48 shopping centers, combined with the use of LED lighting and more efficient HID lamps, accounts for the majority of these savings.
“The networked lighting controls currently generate about $400,000 in annual expense savings,” said Scott Prigge, senior VP national operations for Regency Centers. “Next year, we are on track to increase these savings by 55%, reducing our operating expenses by an additional $220,000. These savings have an immediate and impactful benefit to our bottom line, while also driving more competitive triple net expenses for our tenants.”
Currently, Regency has networked lighting controls installed at 48 neighborhood and community centers. It plans to add the lighting control systems to approximately 30 properties in the next six months to 12 months and will incrementally adopt the technology in its remaining portfolio where the investment makes sound financial sense.
“The payback period for the networked lighting controls is extremely attractive; typically one to three years, depending on the unique circumstances at each property,” said Mark Peternell, VP sustainability for Regency. “And this does not take into consideration the additional maintenance savings derived from extending the life of the fixtures, which are no longer burning all night long.”