New Tool Empowers Cities to Assess, Finance Outdoor Lighting Projects
US Department of Energy (DOE) Municipal Solid-State Street Lighting Consortium has released a Retrofit Financial Analysis Tool developed with the C40 Outdoor Lighting Program, in partnership with the Clinton Climate Initiative.
The tool, available for download, allows cities and utilities to input a range of data, and receive a detailed analysis that includes annualized energy-cost savings, maintenance savings, greenhouse gas reductions and simple payback period. It is based on an original C40-CCI tool, whose complexity demanded expert assistance; the simplified and user-friendly version now available enables all cities to benefit from access to information that supports planning, budgeting and financing efforts.
In an article featured in this month’s LEDs Magazine, consortium director Edward Smalley said, “Converting our nation’s streetlights to LED technology not only could reduce our energy consumption significantly, but also improve the quality of illumination. The Retrofit Financial Analysis Tool will make it easier for cities, utilities and others to analyze the cost benefit of LED street lighting, by providing specific key information on costs and return on investment.”
The Financial Analysis tool also adds value beyond the US LED retrofit market. “Cities around the world can use this tool as a basis for evaluating the economic feasibility of a range of streetlight retrofit scenarios, including LED,” noted Benjamin Pickard, Director of C40-CCI’s Outdoor Lighting Program.
The C40-CCI Outdoor Lighting Program is currently working with 11 C40 cities across the globe, from Los Angeles, which continues to roll out its large-scale retrofit of 140,000 street lights to Light Emitting Diode (LED); to Ho Chi Minh City, which launched an LED pilot project last year; to Rio de Janiero, which is establishing LED specifications and testing protocols. In each City, we help to establish a strong business case for large-scale action, and offer expertise on project management, purchasing, financing and technology.
To read more about Outdoor Lighting trends and opportunities across the C40 global network, read our Climate Action in Megacities report, developed in partnership with Arup.