Lime Energy Approved to Deliver Pay for Performance Programs

Lime Energy LIME has been approved as a partner for the innovative Pay for Performance (P4P) programs in New Jersey and New Hampshire. These programs offer funding of up to $50,000 per building for comprehensive energy reduction plans that investigate the opportunities for energy efficiency. Whenever the preliminary analysis uncovers opportunities to reduce energy consumption by 15% or greater, the programs will make additional incentives available to implement the projects. The additional incentives are limited to $500,000 per customer in New Hampshire, with no per customer limits in New Jersey. Lime is authorized to conduct both the engineering analysis and project implementation, giving its clients the opportunity to work with one firm to streamline the procurement process and achieve greater energy cost savings. Lime Energy has already completed significant P4P projects with New Jersey health care provider, AtlantiCare. In February of this year, Lime Energy completed work under the New Jersey P4P program at three properties for AtlantiCare located in Galloway Township and Atlantic City. These efficiency projects included new boilers, new air conditioning, improved lighting, weatherization, and upgraded controls. Taken together, AtlantiCare is projected to reduce utility bills by 15% and is slated to receive a total of $1.6 million in incentives under P4P. Going forward, these upgrades are projected to save $1.25 million per year in energy costs.