Sustainable Energy Fund Helps Lancaster Wire Plant Become More Energy Efficient
To mitigate the risk posed by the upcoming PPL Electric rate increase,Mount Joy Wire Corp. of Lancaster County recently took action to upgrade its facility with energy efficient lighting and motion sensors financed by Sustainable Energy Fund.
The most recent estimates by the Public Utility Commission predict PPL Electric Utilities’ commercial customers will see more than a 50 percent increase in their electric bills when rate caps expire in 2010. Municipalities, schools and non-profit organizations, as well as businesses, both large and small, face a significant challenge in the coming year to make their operations more energy efficient prior to experiencing “utility rate-shock.”
“At this critical time period we encourage businesses to explore all options available to them to make their facilities energy efficient,” SEF president Jennifer Hopkins said. “Sustainable Energy Fund is extremely flexible to work with, offering a huge benefit to companies by helping them make capital improvements while improving their cash flow.”
The Sustainable Energy Fund and its partner, Applied Energy, helped the manufacturer complete the project before the winter months set in.
“Applied Energy and its partner A1 Energy really got the ball rolling; they did all the legwork, showed us the numbers, and brought both SEF and Schatz Electric to the table,” Mt. Joy Wire Chief Financial Officer Scott Badger said. “Switching from metal halides and T-12s to more energy efficient T-8 and T5HO lights in the plant will give the corporation a payback in under two years.The low-interest loan SEF provided Mount Joy Wire to finance the upgrade was structured so that the utility savings from the lighting retrofit exceeded the loan payments creating a positive cash flow.
“SEF has been great to work with. The application process was easy. Their financial analyst was responsive to my questions and inquiries. We received our loan draws very quickly. We were very pleased with SEF and would definitely consider them for other projects.”
Mount Joy Wire Corp. manufactures high carbon steel wire of all types. The company’s total physical testing capabilities include microscopic analysis and testing of metals conducted by metallurgical experts, guaranteeing the highest quality wire designed to meet the exacting specifications of their customers. The corporation operates from one location in Mount Joy, Lancaster County.
For more information, visit the Sustainable Energy Fund website.
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