Current, powered by GE reported that Morgan Stanley has enlisted its help in saving energy across more than 600 Morgan Stanley Wealth Management branches. The program, which is in partnership with Hines real estate management, will provide a turnkey LED lighting and digital controls solution that Current says will reduce lighting-related energy consumption by up to 50 percent at some branch locations. Current insists that the new LED lighting will also improve operational productivity and enhance the customer experience.
Current’s LED retrofit solution is now being installed on a rolling basis across Morgan Stanley’s Wealth Management offices. Morgan Stanley is also evaluating the use of Current’s Daintree network. If implemented, Current’s Daintree network will offer a wireless digital controls solution that integrates with building sensors and devices to manage building functions including plug loads, thermostats, occupancy, daylighting, and scheduling.
“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 Committed to Reducing Energy Consumption by 20 Percent
Morgan Stanley has committed to reduce energy consumption by 20 percent by 2022 from a 2012 baseline. According to the U.S. Department of Energy, only about 12 percent of U.S. commercial and retail buildings had switched to LED lighting solutions as of 2015. In commercial buildings, lighting makes up about 40 percent of total energy consumption. So, improving lighting efficiency is a great place to start saving energy.
“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. “Working with Current by GE, we are able to reduce energy expenses, leaving branch managers to focus on serving customers.”
Current expects to begin the project with Morgan Stanley later this month and continue it in phases over the next several years.