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Thu September 12, 2013
UK Receives $1 M Rebate Check From KU/LG&E
LEXINGTON, Ky. -- Finding ways to make the University of Kentucky more energy efficient has paid off in more ways than one. Karyn Czar explains.
Three years ago UK spent 25-million dollars to upgrade the energy infrastructure in 61 campus buildings. Bob Wiseman, UK’s Vice President for Facilities said he knew it would help save money on the electric bill.
“We’ve done a lot over the last three years particularly. We internally have been saving about two and a half million a year off our electric bill on our efforts. This is an actual KU rebate of a million directly to us so it’s paying off even beyond what we expected and we appreciate KU’s program here.”
Kentucky Utilities and LG & E Director of Energy David Huff says his company offers up to 50-thousand dollars per facility through their commercial rebate program in energy efficiency.
“ What that does is it goes to help encourage and to provide rebates like to commercial customers such as University of Kentucky such that whenever they make these investments, be a little more incentive, help them out them out with the finances and provide incentive for them to offset the need for future generations.”
The money saved on energy bills and the $1 M dollar rebate check puts $3.5 M back in UK’s pocket. Wiseman says that amount of return means a very short payback of the initial bond investment.