by Heather Clancy
One of the largest commercial LED lighting installations projects in the world — the retrofit of more than 4,500 JPMorgan Chase branches by General Electric's energy division, Current — started life as a proposal for a far-more-modest pilot project.
But when Mike Norton, global head of property management for the financial services giant, started adding up the potential energy savings, his team suggested moving more quickly. The ultimate contract announced in February 2016 is part of the bank's broader $200 million investment in technologies and services meant to reduce JPMorgan's carbon footprint across more than 75 million square feet of real estate in 60 countries.
As of early November, the overhaul was about 80 percent complete across JPMorgan's retail branches, Norton told GreenBiz. A second wave of upgrades centered on the company's commercial office buildings, as well as the addition of a cloud-based system for managing heating, air conditioning and lighting in strategic locations, is still underway.
But here's a supporting metric that speaks for itself: as of July, lighting-related energy consumption at the branches where the updates have been completed was cut in half. The reduction target for overall power usage is 15 percent.
"I realised there was a big opportunity to take this real estate portfolio and make it great," Norton said. "It didn't take long for people to jump on that bandwagon."
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