Morgan Stanley is collaborating with GE’s energy-focused start-up Current to upgrade lighting at more than 600 retail branches. The companies are evaluating energy savings opportunities with a turnkey LED lighting and digital controls solution that is expected to reduce lighting-related energy consumption by up to 50 per cent in some branches, also improve operational productivity and enhance the customer experience.
“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 and CEO of Current, powered by GE. “Forward-thinking companies everywhere are realising the added value of combining LED technology with digital controls, sensors and software to deliver both energy savings and operational productivity.”
Morgan Stanley’s leadership approach to energy efficiency is guided by a commitment to reduce energy usage by 20 per cent by 2022 from a 2012 baseline. According to the Department of Energy, only 12 per cent of U.S. commercial and retail buildings had transitioned to LED lighting solutions as of 2015. Lighting represents approximately 40 per cent of energy consumption for commercial buildings.
“Morgan Stanley is a great partner who recognises the value of an enterprise view,” explained Frank Marcazzo, Director of Facilities Management at Hines, which handles facility management. “Working with Current, 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 later this month and continue in phases over the next few years.
