Does Buying Back Your Utility Owned Street lights Make Sense For Your Community?
If you are a municipal leader trying to save your community every cent possible while improving public spaces and keeping everyone safe, then buying back your utility owned street lights might make sense.
SmartWatt recently completed a project for the Town of Owego that will save the town approximately $45,000 per year in maintenance costs and over $19,000 per year in energy costs.
Once you own your street lights, you can upgrade to LED technology that will save you time and money over the long-term. So now you are thinking that this sounds like A LOT of money. Maybe. But it doesn’t have to break your bank. There is a way to pay for buying back your utility owned street lights without spending a dime. By using an energy performance contract to pay for the project, you pay nothing up front because the estimated energy savings is guaranteed to pay for the project.
This project could be perfect for your community if your utility owned street lights are:
- Not being maintained properly
- Outdated and inefficient
- Causing unsafe areas in your community
Click here to see the full checklist so you can decide if it’s right for your community.