Progressive Lighting Launches “No Pay” Green Energy Projects in Response to the EPA Declaration on CO2 and Federal Energy “Cap and Trade” Legislation

TUSTIN, Calif.--(BUSINESS WIRE)--Progressive Lighting & Energy Solutions (PLES), Tustin, California, has created a revolutionary concept where companies can become energy efficient without any capital outlay. In light of new Federal Legislation and the EPA’s mandate for emission reductions, PLES created a program called Progresshare™. Under this program, PLES will install a complete energy efficient system with no upfront costs or payment by the company.

“Now that the U.S. Environmental Protection Agency (EPA) has declared Carbon Dioxide (CO2) a harmful Pollutant, the EPA will be issuing construction and operating permit requirements for facilities. The Feds require facilities to meet EPA guidelines to reduce their CO2 emissions or face stiff penalties.”

The Obama administration and Congress have proposed a major Energy Bill, The American Clean Energy & Security Act – H.R. 245, aimed at reducing carbon dioxide emissions known as “Cap & Trade.” The Environmental Protection Agency Administrator, Lisa Jackson, has declared Carbon Dioxide (CO₂) a harmful pollutant requiring compliance to the EPA standards or pay heavy fines even without passage of the Energy Bill.

According to Mr. Randy Parole, CEO of Progressive Lighting & Energy Solutions, Inc., “Now that the U.S. Environmental Protection Agency (EPA) has declared Carbon Dioxide (CO₂) a harmful Pollutant, the EPA will be issuing construction and operating permit requirements for facilities. The Feds require facilities to meet EPA guidelines to reduce their CO₂ emissions or face stiff penalties.”

Mr. Parole went on to explain that Progresshare™, offered exclusively by Progressive Lighting & Energy Solutions, is designed to help companies meet the challenge of reduced energy consumption and CO₂ production. This unique program will provide companies a flexible way to meet the requirements of “Cap & Trade” and the EPA’s mandatory CO₂ without any capital expenditures.

Progresshare™ is simple. Share the savings created on an energy reduction lighting project and let the savings pay for the entire cost of the project. No Capital Expenditure simply put, as Mr. Parole says, “Progresshare™ will help companies meet their 'Green' goals while putting green on their bottom line.”

The client enters into a Progresshare™ agreement, which assigns all of the utility rebates and incentives to PLES. PLES will conduct a full energy audit, then implement the installation of new improved and energy efficient measures in the facility plus provide a full and complete scheduled comprehensive maintenance program on the installed energy measures. All at no expenditure of corporate funds to implement and maintain.

The client shares a small portion of the savings created by the project each month for a determined period of time once the project is completed. During that period PLES will provide full maintenance and a monthly utility bill monitoring system to insure proper billing and estimated savings. After that determined period is completed – 100% of the savings is owned by the company.

Mr. Parole offers this example, “ABC Corporation realizes a $10,000 a month energy savings on their utility bill due to our Progresshare™ program, a small percentage of that savings is paid directly to PLES until the cost of the energy reduction program has been paid based on a pre-determined period of time. Then the entire $10,000 per month is realized by ABC Corporation.”

Progresshare™ does not require a credit check, financial statements or personal guarantees. All that is required to participate is a signed Progresshare™ agreement which falls under the accounting category of service and maintenance as an expense line item. Because this is not financing it would not be considered debt on the balance sheet and there are no interest charges either.