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Ameresco and City of Chicago Announce Completion of Smart Street Lighting Modernization Project
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Rhea-AI Summary
Ameresco (NYSE: AMRC) recently completed a significant upgrade of approximately 280,000 street light fixtures in the City of Chicago. This initiative, part of the Chicago Smart Lighting Program, is projected to save the city over $100 million in electricity costs over the next ten years. As the primary contractor for the $160 million project, Ameresco replaced about 85% of the city's street lights with energy-efficient smart LEDs, significantly reducing energy consumption by 50-75%.
In addition to financial savings, the project aims to enhance public safety with better lighting.
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Completion of the Chicago Smart Lighting Program, enhancing energy efficiency.
Projected savings of over $100 million in electricity costs for the City of Chicago over the next decade.
Replacement of 85% of street lights with smart LEDs, reducing energy use by 50-75%.
Immediate projected savings of $12.4 million in electricity for the city this year.
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Ameresco replaced approximately 280,000 street light fixtures across the City of Chicago with projected savings of over $100 million in electricity costs throughout the next ten years.
FRAMINGHAM, Mass. & CHICAGO--(BUSINESS WIRE)--
Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced the completion of its comprehensive Chicago Smart Lighting Program (CSLP) with the City of Chicago to modernize existing street lighting infrastructure. The project is believed to be the largest city-led wireless smart street light program in the U.S. and connects approximately 280,000 street light fixtures across Chicago.
The City of Chicago, Ameresco and other partners celebrated the completion of the smart street lighting modernization project that is estimated to save the City $100 million in electricity costs throughout the next ten years. (Photo: Business Wire)
As the primary energy efficiency contractor for the $160 million project, Ameresco replaced about 85% of the City’s street lights with smart LEDs. The new fixtures use 50-75% less electricity, effectively cutting associated energy costs in half, and last two to three times as long as traditional High-Pressure Sodium (HPS) lights. The City of Chicago is projected to save $12.4 million in electricity this year alone and over $100 million in electricity costs throughout the next ten years.
In addition to the project’s financial benefits, the modernization effort also seeks to improve public safety in Chicago by providing higher quality, more reliable lighting. Throughout the installation process, the City also made it a priority to ensure that it relied on a diverse set of subcontractors, particularly those from minority- and women-owned businesses, to create more equitable access to jobs and marketable skills for residents.
“Creation of the lighting management system puts us in the forefront of smart cities around the nation,” CDOT Commissioner Gia Biagi said. “The program has made Chicago a greener city and is providing clearer, more reliable nighttime lighting in every neighborhood. And the smart lighting management is making our operations more efficient, enabling our workforce to respond to outages more quickly when they occur.”
The four-year modernization project was completed in collaboration with the City of Chicago, the Chicago Department of Transportation, Itron, John Burns Construction and Lyons View Manufacturing, a certified Minority Business Enterprise (MBE) dedicated to creating job opportunities for local Chicago residents with barriers to employment.
“We are proud to be Chicago’s partner in delivering a truly transformational project,” said Lou Maltezos, Executive Vice President, Ameresco. “We commend the City of Chicago and its leadership for successfully completing a project that has become a blueprint for future smart lighting implementations. One of the major benefits of the Chicago Smart Lighting Program is, of course, the energy savings which then translates into cost savings, and ultimately a reduction in the city’s carbon footprint.”
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
The announcement of completion of a customer’s project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total project backlog. This project was included in our previously reported contracted backlog as of September 30, 2021.
What is the Chicago Smart Lighting Program related to AMRC?
The Chicago Smart Lighting Program is a project by Ameresco (NYSE: AMRC) that upgraded approximately 280,000 street light fixtures in Chicago, aiming for significant energy savings.
How much will Chicago save in electricity costs from the street light upgrade?
The City of Chicago is projected to save over $100 million in electricity costs over the next ten years due to the street light upgrade.
What percentage of street lights in Chicago were replaced with LEDs by Ameresco?
Ameresco replaced approximately 85% of the City of Chicago's street lights with smart LEDs.
What are the expected energy savings from the new LED street lights?
The new LED street lights are expected to reduce energy consumption by 50-75%, significantly lowering associated costs.
What is the total value of the Chicago Smart Lighting Program project?
The Chicago Smart Lighting Program is valued at $160 million.
