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BALTIMORE, March 26, 2009 - Constellation Energy's Projects & Services Group announced today that it has been selected to improve the energy efficiency of commercial and industrial buildings in New Jersey through the state's Clean Energy Pay for Performance Program. Through the program, Constellation Energy's Projects & Services Group will guide businesses through a process to audit and benchmark current power usage and create energy reduction plans. The company will also develop specific energy saving projects for customers and then measure and verify those savings over the long-term.
"New Jersey is moving toward a more sustainable energy future by seizing the opportunity to make buildings in the state more efficient users of power," said Greg Jarosinski, president of Constellation Energy's Projects & Services Group. "There are enormous strides to be made by simply modernizing aging infrastructure, improving insulation, updating lighting, and taking advantage of a new generation of energy efficient technologies and materials-all services provided by Constellation Energy's Projects & Services Group."
The New Jersey Clean Energy Pay for Performance Program offers financial incentives up to $1 million to buildings with annual peak electricity demand of 200 kilowatts or more that can achieve a 15 percent reduction in total energy consumption.
Constellation Energy's Projects & Services Group has a portfolio of more than 4,000 energy projects designed to increase efficiency, reliability, cost effectiveness and savings from customers' energy infrastructure. For more than 25 years, Constellation Energy's Projects & Services Group has utilized the "pay for performance" financial model, eliminating upfront energy project costs and funding initiatives through the long-term savings created by guaranteed reductions in overall power consumption. The company is also a major developer of renewable energy projects, and has installed 5 megawatts of clean, renewable solar power systems for customers in five states, including New Jersey.
Constellation Energy's Projects & Services Group (www.ceprojects.com) is the energy services arm of Constellation Energy (NYSE: CEG), a leading supplier of energy products and services to wholesale and retail electric and natural gas customers. Serving business and institutional customers nationwide, Constellation Energy's Projects & Services Group specializes in financial and environmental solutions that can significantly reduce energy consumption and costs. Constellation Energy's Projects & Services Group delivers the technical expertise to develop large scale energy projects, such as solar, biomass and geothermal projects, and on- or off-site power generation systems. The company also designs and implements full energy system retrofits that save energy and reduce harmful emissions.
