Commercial, Energy Efficiency  -  October 18, 2021

Phillips Edison Celebrates Energy Costs Savings from Efficiency Upgrades

Phillips Edison & Company (PECO) released Oct. 18 its 2020 corporate responsibility report detailing its energy cost savings from a variety of efficiency projects.

The shopping centers operator saved 7.2 million kWh annually through upgrades to its exterior lighting, which included reducing associated energy use by 82.4%. The company also saved 5.1 million kWh annually through interior lighting upgrades.

Additionally, PECO generated $2,456,200 in energy cost savings by upgrading 2,360 tons of HVAC equipment at 146 centers. Its energy upgrades also included Installing 36 electric vehicle charging stations, bringing its total portfolio to 186 stations.

“The challenges of navigating a global pandemic have served to reinforce our commitment to ESG and functioning as a responsible corporate citizen in the communities we serve – these are critical efforts that create value for all our stakeholders,” Jeff Edison, chairman and CEO of PECO, said in a statement. “I’m especially proud of the PECO team for mobilizing quickly to establish programs and introduce creative solutions to support our Neighbors, customers and each other during a time of uncertainty. We continue to make significant progress evolving our longstanding CSR initiatives, which delivered results across the board. This is a clear example of how our culture of teamwork and innovation can make a difference, and we remain committed to advancing these efforts.”