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Honeywell Helps California City Go Green
MINNEAPOLIS, Apr 26, 2007 -- BUSINESS WIRE
Honeywell (NYSE:HON) today announced an energy and environmental conservation program for the City of Perris, Calif., located in Riverside County, that is expected to reduce the city's energy use and significantly decrease greenhouse gas emissions. The city will realize these benefits through a large solar project, and a variety of upgrades designed to increase energy efficiency and comfort across several city buildings. The carports also will provide more than 240 shaded parking spaces for residents and city workers. Honeywell will work with city planners to make sure the construction is consistent with the area's Mission Revival Style architecture. "We're meeting our energy goals and protecting the environment by using renewable technology," said City of Perris mayor Daryl Busch. "The entire program will reduce carbon dioxide emissions by 960,000 pounds per year -- equivalent to removing more than 90 cars from the road." The solar portion of the program is set up through a power purchase agreement. Under the agreement, Honeywell will install, own and maintain the carports, and sell the panel-produced electricity to Perris. The city can continue purchasing energy from Honeywell after the 20-year agreement expires, or it can acquire ownership of the structures or find a new provider. Along with the carports, Honeywell will improve city facilities with energy conservation measures like lighting retrofits, high-efficiency heating and cooling units, and programmable thermostats. The energy savings the upgrades produce -- projected to total more than $1.8 million over the life of the program -- are expected to pay for the work. Honeywell guarantees the savings through a performance contract so the improvements will not increase operating budgets or require additional taxpayer dollars. The city also will fund part of the solar project through the savings. "The solar carports and conservation measures give the city predictable energy costs for the long term, which helps in planning for the future," said Mark Yarbrough, City of Perris councilmember. "The end result is a better place to live without a larger budget." Residents and visitors will be able to monitor the solar production via the city's Web site (www.cityofperris.org) or community access kiosks located at the library and city hall, giving them a better understanding of how the conservation program is benefiting the environment and the city's bottom line. Honeywell expects to complete the facility improvements by mid-summer and the solar installation by end of year. "Perris is leveraging green, energy-efficient solutions to help minimize its environmental impact, as well as the effect of volatile energy prices," said Joe Puishys, president of Honeywell Building Solutions. "And it's doing so in a fiscally responsible way. As a result, the city and its people benefit on multiple levels." Honeywell International is a $33 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London and Chicago Stock Exchanges. It is one of the 30 stocks that make up the Dow Jones Industrial Average and is also a component of the Standard & Poor's 500 Index. For additional information, please visit www.honeywell.com. Honeywell Building Solutions is part of the Honeywell Automation and Control Solutions business group, a global leader in providing product and service solutions that improve efficiency and profitability, support regulatory compliance, and maintain safe, comfortable environments in homes, buildings and industry. For more information about Building Solutions, access www.honeywell.com/buildingsolutions. This release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Forward-looking statements are based on management's assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by our forward-looking statements. Our forward-looking statements are also subject to risks and uncertainties, which can affect our performance in both the near- and long-term. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission. SOURCE: Honeywell News Provided By |
