Spark Power Launches Energy Efficiency Services Across North America

Rhea-AI Summary

Spark Power Group Inc. has introduced new energy efficiency services for commercial and industrial entities to enhance their sustainability efforts. This initiative aims to reduce electricity costs and minimize carbon footprints, potentially lowering energy usage by 4-17%. With a market opportunity expected to exceed US$8B in 2021 and grow to US$11.3B by 2028, Spark Power is positioning itself as a leader in energy efficiency solutions. The service includes end-to-end support, from assessment to implementation, and offers incentive application assistance for customers across North America.

Positive

• Launch of energy efficiency services expected to save customers 4-17% on energy costs.
• Market for energy efficiency in North America projected to exceed US$8B in 2021, reaching US$11.3B by 2028.
• End-to-end service and assessment support enhances customer experience.

Negative

• None.

Spark Power has launched energy efficiency services to help commercial and industrial facilities shrink their carbon footprint and save money.

OAKVILLE, ON / ACCESSWIRE / May 3, 2021 / Spark Power Group Inc. ("Spark Power" or the "Company") (TSX:SPG) has launched energy efficiency services for small to medium sized manufacturers in the commercial and industrial space. This service offering will help customers save time and money by identifying optimizations and simple upgrades with short payback periods and tangible environmental benefits.

Spark Power's energy efficiency services will lower customers' electricity costs, shrink their carbon footprint, and provide a convenient, end-to-end experience from assessment to implementation. Energy efficiency projects in the commercial and industrial space have the potential to reduce customers' energy usage by 4-17% compared to their existing equipment.¹

The services also include incentive application support to inform customers of potential savings and apply for incentives on their behalf. With local branches across North America, Spark Power can provide region-specific services that are tailored to each customer's needs and local incentive options.

Energy efficiency represents an exciting opportunity for the Company, with energy efficiency-related spending in North America expected to exceed US$8B in 2021 and forecasted to reach US$11.3B by 2028.²

"Our sustainability offerings continue to grow across North America, and we're proud to support our customers' evolving needs," said Sean Drygas, Vice President, Sales, Marketing, Strategy & Sustainability, Spark Power. "Spark's energy efficiency services will identify our customers' most pressing efficiency opportunities and provide a streamlined implementation path, furthering our commitment as our customers' Trusted Partner in Power."

Spark Power has over 50 years of experience providing low voltage electrical contracting. The Company has operations across North America and provides end-to-end support to over 5,500 customers, from assessments, surveys, and finding the right solution for their needs, through to implementation, testing, and commissioning.

"We are pleased to offer our customers a new way to shrink their carbon footprint while cutting their energy costs," said Cody Zaitsoff, Executive Vice President, U.S. & Western Canada, Spark Power. "Through expert analysis and end-to-end service, our energy efficiency services will help customers meet their energy goals."

Bullfrog Power, Spark Power's sustainability division, will support the Company's new energy efficiency services by analyzing customers' energy consumption and costs, and securing all incentives on their behalf. For over 15 years, Bullfrog Power has offered high-quality, high-impact sustainability solutions to power the future of your business. Bullfrog Power brings a decade of experience working in energy efficiency and conservation programs to this new product offering.

"Bullfrog Power has been a trusted source of corporate sustainability solutions for more than 15 years. We're excited to apply our expertise to our new energy efficiency services and to help a wider customer segment reap the benefits of sustainable energy practices," said Suha Jethalal, General Manager, Bullfrog Power.

About Spark Power

Spark Power is a leading independent provider of end-to-end electrical contracting, operations and maintenance services, and energy sustainability solutions to the industrial, commercial, utility, and renewable asset markets in North America. We work to earn the right to be our customers' Trusted Partner in Power™. Our highly skilled and dedicated people, located in the communities we serve, combined with our knowledge of the power industry, technology expertise, and commitment to safety, ensures we deliver the right solutions that keep our customers' operations up and running today and better equipped for tomorrow. Learn more at www.sparkpowercorp.com.

About Bullfrog Power, Spark Power's sustainability division

Bullfrog Power, part of Spark Power Group Inc. (TSX:SPG), offers smart and sustainable energy solutions that help thousands of businesses and individuals meet their climate goals. In 2005, Bullfrog Power revolutionized Canada's energy landscape by giving businesses and individuals a renewable energy choice for the first time. Bullfrog Power's team of sustainability experts also offers solutions including power purchase agreements, energy efficiency, on-site solar, and a suite of green energy products. As a Certified B Corporation, Bullfrog Power meets higher standards of social and environmental performance, transparency, and accountability. Visit bullfrogpower.com to see how our sustainability solutions can power the future of your business, or join the bullfrogpowered community online on LinkedIn, Facebook, Instagram, and Twitter.

Media Inquiries:

Kim Samlall, Director, Marketing Communications, Spark Power media@sparkpowercorp.com

Product or Service Inquiries:

Suha Jethalal, General Manager, Bullfrog Power Suha.jethalal@bullfrogpower.com

Sources:

1. "State Level Electric Energy Efficiency Potential Estimates," U.S. Department of Energy, May 15, 2017.
2. "North American Utility Energy Efficiency Program Implementation," Guidehouse Insights, 2019.

SOURCE: Spark Power Group Inc.

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https://www.accesswire.com/643648/Spark-Power-Launches-Energy-Efficiency-Services-Across-North-America

FAQ

What is the purpose of Spark Power's new energy efficiency services?

The services aim to help commercial and industrial facilities reduce electricity costs and their carbon footprint through optimized energy usage.

How much can customers save with Spark Power's energy efficiency services?

Customers can potentially reduce their energy usage by 4-17% compared to existing equipment.

What is the projected market size for energy efficiency services in North America?

The energy efficiency market in North America is expected to exceed US$8B in 2021 and reach US$11.3B by 2028.

Who will assist customers with incentives for energy efficiency projects?

Spark Power will provide incentive application support to inform customers about potential savings and apply for incentives on their behalf.

What is the significance of Spark Power's experience in the market?

With over 50 years of experience, Spark Power is equipped to offer comprehensive energy solutions, serving over 5,500 customers across North America.