The Spirit of Ethan Allen, the Lake Champlain tour boat operating out of Burlington, is experiencing a 75 percent reduction in electricity usage since enlisting the support of Burlington Electric Department’s Energy Services, according to the company. Starting in March 2013, several efficiency projects have been completed, with a bulk of the projects funded through BED’s On-Bill Financing Program.
Mike Shea, owner of the Spirit of Ethan Allen, said: “Following the work we did with BED, we realized a reduction in our electric bill of almost $18,000 a year. BED played a critical part in that process – education of the crew on the benefits of energy efficiency, helping identify opportunities for efficiency upgrades, providing technical assistance and project support, and On-Bill Financing were all needed to make these changes happen. The savings we experienced are beyond our wildest dreams.”
The Spirit took on a variety of efficiency projects throughout the process. The projects include the conversion of electric heat to diesel, the upgrade of all their screw-in bulbs to LED, the redesign of their kitchen lighting to LED, and refrigeration upgrades. In total, the cost of the projects came to over $30,000, with a simple payback of under two years.
Because a large portion of the projects was funded through On-Bill Financing, The Spirit did not need to put any money down; BED provided the capital. With BED’s support, the terms of the financing were structured in a way so the monthly loan payment is less than the amount of electricity saved, generating monthly positive cash flow.
“We have many satisfied customers,” said BED’s Energy Specialist Ravi Parikh, “but Mike Shea is at the top of the list. He made a smart business decision to approach us with his electricity concerns. Mike and his crew really wanted to learn, which made the whole process that much more enjoyable. From OBF to Energy Engage, I was able to utilize all my ‘efficiency tools’. This was a fun project, and I hope other businesses in Burlington will look for BED’s support in the future.”
Shea has become a real convert to energy efficiency, checking Energy Engage, BED’s online energy usage website, several times a week. “Energy Engage has already helped me identify the ice machine as an energy hog, so I am in the process of creating a shutdown schedule so it is not used all day long. There are so many ways to save once you start looking for them,” said Shea.
The reduction in energy usage has been so dramatic that The Spirit was able to change electric rates from a “Large General” rate to a “Small General” rate, further adding to their savings.
Source: Spirit of Ethan Allen 9.9.2014