PHILADELPHIA, January 28, 2016–(BUSINESS WIRE)–PECO customers have saved more than half a billion dollars in energy, incentives and rebates with PECO Smart Ideas. Based on total energy savings, PECO Smart Ideas is the most successful suite of utility run energy efficiency programs in Pennsylvania.
Since 2009, PECO’s residential and business customers have saved nearly 2.2 million megawatt-hours of electricity by installing energy-efficient lighting, recycling and replacing older inefficient appliances with new ENERGY STAR® models, performing energy assessments to identify long-term savings opportunities and more.
“Now in their seventh year, we are thrilled these innovative programs continue to meet the needs of our customers,” said Craig Adams, PECO president and CEO. “We look forward to offering even more programs as we continue to provide our customers with safe, reliable, affordable and clean energy and energy services.”
PECO Smart Ideas is a suite of 15 different programs that help residential, business, government, nonprofit and institutional customers save energy and money. In total, PECO customers have received more than 451,000 rebates for energy-efficient actions. Since the programs launched in 2009, customers have received $103 million in rebates, $103 million in incentives for energy- efficient products and saved more than $298 million by using less energy overall. Included in these energy efficient actions, customers have:
PECO Smart Ideas has received 10 industry awards, including three ENERGY STAR® Partner of the Year Awards since 2009.
PECO Smart Ideas is part of the company’s support of Pennsylvania’s energy efficiency and demand response targets – known as Act 129 of 2008. Act 129 required all Pennsylvania electric utilities to develop programs to help customers reduce energy use by 1 percent by May 31, 2011 and 3 percent by May 31, 2013. Act 129 also requires PECO to reduce their energy usage by an additional 2.9 percent by May 31, 2016, and by an additional 5 percent by 2021. PECO is currently working to develop new programs and initiatives to help achieve this goal.
Based in Philadelphia, PECO is an electric and natural gas utility subsidiary of Exelon Corporation (NYSE: EXC). The company’s 2,400 dedicated employees provide advanced, innovative energy solutions to 1.6 million electric and more than 506,000 natural gas customers in southeastern Pennsylvania. In 2014 PECO delivered 89.9 billion cubic feet of natural gas and 37.5 billion kilowatt-hours of electricity and had an estimated economic impact of $4.5 billion in Pennsylvania, supporting more than 9,600 local jobs and producing $760 million in labor income. Founded in 1881, PECO is one of the Greater Philadelphia Region’s most active corporate citizens, providing leadership, volunteer and financial support to numerous arts and culture, education, environmental, economic development and community programs and organizations. For more information visit PECO.com, and connect with the company on Facebook and Twitter.