Energy Portfolio Assoc. completes lighting project for GGMC

If you are going to invest any money at all these days, look to your own business. That's what GGMC, a parking garage company that operates over 30 garages in Manhattan, discovered when they changed out their lighting fixtures. Andrew Grossman, vice president of GGMC, said "We were duly impressed. Our customers noticed how great the quality of the new lighting is and our last four months electric bills project out to a 35% savings. Savings I see each and every month. With cost-cutting being the high priority that it is, this investment is going to pay off in the long term." The company responsible for this lighting project is EPA (Energy Portfolio Associates). Formed in 1987 and based in Mamaroneck, N.Y., EPA is headed up by partners Jim Nadel and Ken Epstein. EPA focuses on two different types of programs that are administered by NYSERDA (New York State Energy Research Development Authority). NYSERDA's mission is to incentivize energy users to be more energy efficient: the first program encourages lighting upgrades through the Enhanced Institutional and Commercial Program and the second program, the Multifamily Performance Program provides incentives to owners of apartment buildings and managers of co-ops and condos by evaluating everything from their hot water systems to their windows and roofing. "Even if your revenues are off," said Nadel, "you still have to operate your business and that means turning on your lights each and every day. Our point at EPA is why not do it more efficiently?" EPA's business model is to provide an energy end-user with an energy product through one of the ESCOs (Energy Service Company) that it is under contract with. The customer receives either a fixed price for a particular term (1, 3, 5 years) on gas and/or electric, a variable product or block and index product that EPA determines to be in the customer's best interest.  What makes EPA unique in the industry is that it deals with all of the major ESCOs and therefore has the ability to find the right company perfectly suited for a specific customer's power needs. Once the customer is enrolled in an energy program, EPA does a survey of the customer's facility(ies) which focuses on consumption; the goal is to develop methodologies to drive down energy usage, and, therefore the cost.  After EPA completes the energy survey and technical analysis, it makes specific recommendations that will lead to the implementation of lighting upgrades and the improvement of a building's energy infrastructure. In addition to putting NYSERDA incentives on the table, EPA taps into another NYSERDA program which assists the customer regarding financial options: the Smart Energy Loan Fund which pays down a bank's interest rate by 6.5% (in Con Edison's service territory) and enables the customer to borrow the funds needed to implement the recommendations contained in EPA's audit report. EPA also provides off-balance sheet financing, if needed. Epstein said, "There are tremendous tax and rebate advantages offered by the state to businesses that create a more energy efficient environment. Our expertise at EPA is to provide our customers with the greatest opportunity to maximize their savings. In today's economy, what business isn't looking at smart measures to improve their bottom line?"