Current, powered by GE has announced a new energy efficiency program with Morgan Stanley. The companies are collaborating to evaluate energy savings opportunities across more than 600 Morgan Stanley retail branches with a turnkey LED lighting and digital controls solution. The initiative is expected to reduce lighting-related energy consumption by up to 50% in some branches, plus improve operational productivity and enhance the customer experience. The program, which is being implemented in partnership with Hines real estate management, will provide enterprise-level visibility across Morgan Stanley’s diverse portfolio of Wealth Management branches.
“This collaboration is a great example of a leading financial institution and real estate management firm coming together to reduce energy, improve operations and position themselves for the future,” said Maryrose Sylvester, President & CEO of Current, powered by GE. “Forward-thinking companies everywhere are realizing the added value of combining LED technology with digital controls, sensors, and software to deliver both energy savings and operational productivity.”
Morgan Stanley’s approach to this energy efficiency program is guided by a commitment to reduce energy usage by 20% by 2022 from a 2012 baseline. According to the Department of Energy, only 12% of U.S. commercial and retail buildings had transitioned to LED lighting solutions as of 2015.
“Morgan Stanley is a great partner who recognizes the value of an enterprise view,” explained Frank Marcazzo, director of facilities management at Hines, which handles facility management for Morgan Stanley branches. “Working with Current by GE, we are able to reduce energy expenses, leaving branch managers to focus on serving customers.”
Current’s LED retrofit solution is now being deployed on a rolling basis across Morgan Stanley’s Wealth Management offices. Beyond LED-related energy savings, Current’s Daintree* network is also being evaluated, and if implemented, will provide a digital controls solution that wirelessly integrates with building sensors and devices to manage occupancy, daylighting, scheduling, thermostats, and plug loads.
The project is expected to begin late April 2018 and continue in phases over the next few years.
A startup launched within the walls of GE, Current blends advanced LED lighting with networked sensors and software to make commercial buildings and industrial facilities more energy efficient and productive. Current is backed by the power of Predix, GE’s platform for the Industrial Internet, along with an ecosystem of technology partners.
* Trademark and/or Service Mark of General Electric Company