BioStar Lighting Joins as Financial Ally to the Better Buildings Challenge
BioStar Lighting is expanding its network of partners to include one of our nation's most impactful energy efficiency programs - the Department of Energy’s Better Buildings Challenge. The program identifies technology solutions and commercial sectors that have the most potential for energy savings. BioStar has committed to investing at least $25 million in building energy efficiency projects. Their team has already completed projects from coast to coast through their national network of strategic partners, and they are assisting nationally recognized companies such as Hallmark to achieve energy reductions. Joining the national Better Buildings Challenge is the logical next step for the company.
Better Buildings Challenge’s Far-Reaching Impact
The Department of Energy's Better Buildings' Challenge is a Presidential initiative that aims to make commercial and public buildings at least 20% more efficient by 2020. Experts estimate that a 20% reduction in commercial and industrial energy use would reduce business owners' energy bills by roughly $80 billion annually. Currently, more than 250 organizations and businesses, representing 3.5 billion square feet of building space, 650 manufacturing facilities, 50 cities and states and 25 financial allies committing $5.5 billion in energy efficiency investments, are partnering with DOE. Partners are setting energy savings goals, developing innovative energy efficiency strategies, adopting cost-effective technologies and market practices, and sharing their progress in order to assist in developing replicable solutions.
Funding Energy Efficiency
BioStar will play a beneficial role in the Better Buildings Challenge in the areas of finances and research. As a financial ally, BioStar has committed to providing capital to fund energy efficiency projects and promoting innovative financing opportunities. Their ability and willingness to provide no money down financing for the full upfront cost is the difference that makes energy efficiency upgrades possible for many companies. BioStar is honored to join the other Better Buildings Challenge financial allies, making the commitment alongside institutions such as Bank of America, Citi, and PACE Equity. It brings to the Challenge a unique blend of financial capabilities and expertise.
Sharing Expert Knowledge
BioStar Lighting has extensive experience in many of the focus areas, such as retail buildings, waste management, healthcare facilities, parking structures and renewable energy. The company also has a focus on the Better Buildings Challenge’s newest sector, delivering sustainable energy solutions to the data center industry.
"We are already involved in many of the key activities that the Better Buildings Challenge targets as opportunities to make significant improvements in energy efficiency. We welcome the chance to partner with other dedicated organizations, to share our expertise, and to expand our knowledge of best practices and energy efficient technologies."
-Robert Quist, BioStar Lighting’s Better Buildings Challenge liaison
As BioStar makes progress toward its goal, its strategies will be posted publicly in the Better Buildings Solution Center.