Citizens Bank
At a Glance
Industry
Financial Services and Insurance
Project Type
Commercial Energy Efficiency
Year
2011
Location
Stamford, CT
Net Present Value:
$478,000
Annual kWh Savings:
1,500,000 kWh
Annual CO2 Reductions:
575 metric tons
Summary
Matt Schmitt looked for energy efficiency opportunities in data centers, bank branches and offices.
Goals
Matt Schmitt spent his summer at RBS Citizens Financial Group evaluating energy efficiency projects at the bank's data centers, branches and offices throughout the northeastern US.
Solutions
At two of the company's data centers, Matt recommended retrofits to air conditioning units that could reduce annual electricity costs by about $130,000. The projects qualify for great rebates from local utilities, which makes the payback less than two years.
Matt drafted a scope of work for RBS to solicit bids from energy audit companies in order to improve the energy efficiency at retail Citizens Bank branches. Additionally, Matt initiated utility sponsored audits at four branches, which found ways to cut electricity use by 8 percent just with lighting retrofits, and the utility covers 70 percent of the cost, making for a short payback.
Lastly, Matt started the installation process for enhanced electric meters at office buildings that will give 15 minute interval data usage, and he recommended an internal chargeback system where business units are charged for after-hour's office usage.
Potential Impact
All told, Matt's recommendations totaled about $478,000 in savings, 575 metric tons of reduced CO2 emissions and an annual electricity use reduction of 1.5 GWh, enough to power more than 160 homes a year.