LBA Realty’s Battery Storage and LED Projects expected to deliver $1.9 million in Energy Savings
LBA announces initial results from its latest clean technology efforts to install battery storage and LED retrofits across eight office and industrial properties in California, Arizona, Colorado and Nevada.
BOULDER, COLO.: These projects are estimated to save the properties over $1.9 million dollars over the next 10 years. The projects were facilitated by Black Bear Energy Inc., who acted in partnership with LBA Realty.
Over the past 12 months, LBA has installed three battery storage projects at three sites in Southern California Edison (SCE) electric territory, for a combined 1.4 MW/ 2.8 MWh of indoor onsite storage. This includes a 2.5 MWh system at Park Place—which at the time it was announced was the largest indoor battery storage system in the world. To date, the three systems, which were installed between December 2016 and January 2018, are estimated to save the properties $130,000 per year. In addition, LBA recently executed two additional systems with STEM, that once installed, will bring LBA’s combined storage totals to 2MW/4.35 MWh. The projects are owned and operated by intelligent energy storage from California-based firm, Stem.
The battery storage projects not only deliver automated electricity savings to the properties, but also serve California’s electricity grid, by providing on-call demand reduction to help SCE balance the grid during peak times. Four of the installations are part of SCE’s initiative to help relieve grid congestion in the West Los Angeles Basin region using a variety of methods namely energy storage. The storage systems serve to reduce the local grid’s reliance on fossil-fueled power plants and improve overall electricity reliability in the region.
“The intelligent storage system has delivered automated energy cost savings without impacting tenants’ comfort or operations,” said LBA Realty’s Director of Engineering, Roman Gunther. “In addition, the detailed software system gives a more granular view showing how the building is operating.” The system’s robust software platform calls on the batteries to store power when energy costs are low, then rapidly deploys it to avoid expensive peaks.
“In the future, we expect storage opportunities to become viable at more of our properties, as the cost of storage continues to decrease, demand charges increase, and as we see more utility companies incentivize grid flexibility,” said Perry Schonfeld, Principal and COO of LBA Realty. “It is our goal to get comfortable with these systems so we can continue to roll out storage as it makes sense in new geographies offering new cost-saving opportunities at more of our properties.”
LBA Realty, in partnership with Black Bear Energy, also implemented lighting retrofits at four properties that are estimated to save them over $100,000 a year in energy savings, and reduce the use of energy related to lighting by on average 73%. The projects paybacks are 1.6 – 4 years with multiple LED vendors including FSG, Every Watt Matters and LED Wired.
Black Bear partnered with LBA in identifying prospects within their portfolio, selecting vendors in the storage and LED space and overseeing construction and installation.
“Black Bear has enabled us to remain on the cutting edge of new technologies that will help to improve our business, provide benefits to our tenants and our bottom line, and demonstrate our commitment to sustainability,” said Schonfeld.
About LBA Realty
LBA Realty is a full service real estate investment and management company with more than 47 million square feet of diverse office and industrial properties. LBA’s core markets include the Western United States, Texas, Chicago, New Jersey and New York. In addition to acquiring and repositioning properties, LBA supports the needs of corporate real estate partners with build-to-suit development services.
About Black Bear Energy, Inc.
Black Bear Energy is a technology-enabled energy services company that represents commercial renewable and clean energy buyers. Black Bear’s clients own, manage, or control more than 3 billion square feet of real estate through the U.S. For more information about Black Bear Energy visit BlackBearEnergy.com. For press inquiries contact pwheeler@blackbearenergy.com.
