JP Morgan reaches deal with GE's Current for LED rollout - Smart Energy Decisions

Commercial, Demand Management, Energy Efficiency  -  February 22, 2016

JPMorgan announces massive LED rollout

In what has been called the world’s largest single-order LED installation to date, JPMorgan Chase & Co. announced it will put LED lighting in most of its roughly 5,000 U.S. branches. 

Once completed, the project could reduce the branches’ lighting-related energy use by more than 50%, the firm said in a Feb. 19 news release. 

"We are always looking for better ways to manage our branches in an efficient and sustainable manner,” Chase Consumer Banking CEO Barry Sommers said in a statement. "This helps us deliver on that goal by reducing the energy we use in the communities we serve."

The project is being implemented by the new energy-focused startup within General Electric called Current . The business aims to integrate GE’s LED, solar, energy storage and electric vehicle businesses with its industrial-strength software platform, Predix.

Chase and Current executives celebrated the project by ringing the closing bell of the New York Stock Exchange Feb. 18, alongside six other companies working with Current on energy-saving projects, including Hilton Worldwide and Hospital Corporation of America.

"LED commercial usage is anticipated to grow from 28 percent today to 95 percent by 2025, unlocking tremendous value for our customers to reduce energy cost and complexity in commercial enterprises,” Current President and CEO Maryrose Sylvester said in the release. "Chase understands this shift and is a frontrunner in leading the transformative change in distributed energy by leveraging LEDs to optimize energy efficiency.”

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