Ameresco, Inc., (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced today that it is working with the Town of East Hartford to develop and implement an LED street light and exterior lighting upgrade project at select locations. Under a $2 million Energy Savings Performance Contract (ESPC) including more than $480,000 in incentives, new street lights are being installed throughout town, and the Public Safety Complex, Community Cultural Center, Town Hall Offices, Terry Pool Park, Town Green Alumni Park and Firehouse #5 will benefit from exterior lighting upgrades resulting in more than 1.6 million kWh in annual electric savings. Further leveraging the resulting energy savings, East Hartford has engaged Ameresco for the duration of the contract to provide on-going maintenance of the new LED fixtures in the case of outages, repair, or damage ensuring the benefits will continue for East Hartford.

“East Hartford is working with Ameresco to develop and implement an energy efficiency project that we are confident will benefit our entire community,” said Mayor Marcia Leclerc. “The budget savings generated under the ESPC has allowed us to secure much needed capital improvements, and our project will be paid completely by the savings—resulting in no net cost increase to the Town budget or East Hartford taxpayers.”

“Ameresco commends Mayor Leclerc for her leadership in utilizing the performance contract model and we are pleased to be partnering with the Town of East Hartford for their energy efficiency and sustainability initiatives,” said Michael Daigneault, Vice President, Ameresco. “The Town’s LED street light project offers a great example of utilizing the budget-neutral ESPC process to make municipal infrastructure improvements that pay for themselves while the projects enhance and benefit the overall community.”

LED street lights provide dramatic reductions in energy and maintenance costs, and deliver improved lighting, visibility and aesthetics that offer enhanced public safety. Under the ESPC, Ameresco is installing nearly 5,000 street lights, replacing old lamps with the latest solid state LED technology. In addition, a variety of 174 Shoebox, Wall-pack and Flood-style LED exterior fixtures are being installed. The project is currently underway and is expected to be completed in the spring of 2015.

The increased efficiency and decreased long-term operating cost that LED technology provides is expected to allow the Town the ability to improve service while keeping costs in line, paying dividends well into the future.