Eagleville, PA – State Treasurer Joe Torsella today joined with local government officials in SE, PA and the Delaware Valley Regional Planning Commission to host a press conference on an innovative energy savings program, jointly offered by Treasury and the Foundation for Renewable Energy and Environment (FREE) in partnership with Treasury’s PennSEF program.
PennSEF provides legal and technical assistance, as well as low-cost capital, for energy improvement projects by municipalities, universities, schools and hospitals.
The PennSEF program reflects the Treasurer’s priority of developing programming to save taxpayer dollars while offering innovative solutions to issues of concern to Pennsylvanians.
Thirty-five local governments in the SE Regional Streetlight Procurement project are saving millions of dollars and benefiting from a single buying pool developed using the PennSEF model. The program also eliminated duplication of local government efforts that compounded the savings, while reducing energy costs and providing environmental benefits to taxpayers.
The project upgrades more than 26,000 streetlights, exterior lights and traffic signals. The 35 municipalities will achieve annual reductions of over 10,000-megawatt hours and 5,500 metric tons of CO2 emissions; provides a gross savings of more than $30M and net savings of almost $16M over 20 years
Dr. John Byrne, who is a member of the UN body which won the shares the 2007 Nobel Peace Prize and is chairman and CEO of the Foundation for Renewable Energy and Environment, Treasury’s partner in the PennSEF program, also joined the Treasurer.
“By working together, we have created a program that eliminates government inefficiencies, is environmentally responsible and that creates saving opportunities by providing access to low-cost capital for not only local governments, but also for our universities, our schools, and our hospitals.
All of the cost—let me say that again—all of the cost of these energy improvement projects are paid for by the savings they create. For this project alone, taxpayers will see a gross savings of almost $30 million to get a better product and a better environment. Who knows what the next project can achieve, and the one after that.
Every dollar that comes from a Pennsylvania taxpayer doesn’t just represent money. It represents their hard work. It represents their investment into our common wealth.
The Regional Streetlight Procurement Project is a shining example of that investment paying off. By combining resources, experience, and skills, we’ve helped 35 separate entities come together into one buying pool to move from high-cost, old light bulb technology into lower-cost, greener and more reliable LED bulbs.
While this may sound like a minor step, the results are anything but. More than $30 million in gross savings. Streetlights that work better, that shine brighter, that use less energy and cost less to operate.
This is what a simple promise looks like fulfilled; to steward taxpayer money wisely. To make the streetlights shine. To make government work.”
Pennsylvania Treasurer, Joe Torsella