Iona 1st College in Westchester County To Adopt Con Edison Energy Savings and Rebate Program

Major Green Initiative Will Save College Up to $117K Annually in Electric Costs Plus $130K Rebate

New Rochelle, NY (September 2, 2010) - Iona College has taken another major step to achieve a more environmentally sustainable campus by becoming the first educational institution in Westchester County to take advantage of a major energy savings and rebate program from Con Edison. By adopting an  energy-saving lighting system for 17 of its buildings and facilities, Iona will save up to $117,000 annually in electric costs and will earn an additional rebate of $130,000.

Brother James A. Liguori, President of Iona College, and Craig S. Ivey, President, Con Edison, made the announcement today in Iona's Hynes Athletics Center gym, one of the buildings where the upgrading is underway. The new lights in that building will produce the largest savings, $34,000 a year.

Officials also noted the environmental benefits of the upgrade. Con Edison estimates that when the project is completed, the new lighting will save up to 784,000 kilowatt hours a year. That will reduce carbon dioxide emissions by 319 tons, the equivalent of removing 50 cars from the road.

Iona decided to make the lighting improvements earlier this year after learning it qualified for Con Edison's program, which offers rebates to customers using less than 100 kilowatt hours of peak demand. An audit showed that by replacing the light fixtures in the parking garage with a more energy-efficient model and installing photocells on the perimeter lights, Iona would enjoy significant savings. In fact, after the garage installations were completed, a comparison of Con Edison's electric bills over the past year indicated that Iona had cut its costs by more than half.

Five other facilities have been upgraded to date, including Hagan Hall which houses the Hagan School of Business; the pool at the Hynes Athletics Center and three lecture hall buildings. The lighting will also be installed at 11 additional campus buildings. The project includes energy-efficient lighting fixtures and sensors to turn off lights when no one is in the room, as well as upgrading the emergency exit signs.

Con Edison is paying 70 percent of the cost of the work. Iona estimates that within a year, it will have gotten back its $55,000 share of the cost with the savings and rebate.

Brother Liguori said Iona quickly recognized Con Edison's energy savings program made economic and environmental sense.  "Iona is pleased to take advantage of Con Edison's energy program which will lower our energy costs and help preserve the planet."

He added: "This step by the college is consistent with Iona's commitment to create a more sustainable environment." He cited the campus-wide, innovative paper conservation campaign which earned national recognition by the National Wildlife Federation. The college is also a charter member of the Environmental Consortium of Hudson Valley Colleges and Universities, an organization whose mission is to help shape the future of the regional and global environment through collaboration, education and research.

"On behalf of the 14,000 men and women of Con Edison, I congratulate Brother Liguori and his great team for making Iona the first educational institution in Westchester County to take advantage of our energy-saving incentive and rebate programs," said Mr. Ivey. "At Con Edison, we want all our customers - large and small, business and residential - to start using less energy, and we're paying them to do it."

Founded in 1940, Iona College is a four-year private, coeducational institution of learning in the tradition of the Edmund Rice Christian Brothers and American Catholic higher education. It is a diverse community of learners and scholars dedicated to academic excellence and the values of justice, peace and service. Iona offers undergraduate degrees in liberal arts, science, and business administration, as well as Master of Arts, Master of Science and Master of Business Administration degrees and numerous advanced certificate programs.

Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation's largest investor-owned energy companies, with approximately $13 billion in annual revenues and $34 billion in assets. The utility provides electric, gas and steam service to more than three million customers in New York City and Westchester County, New York. For additional financial, operations and customer service information, visit Con Edison's Web site at www.conEd.com.

Con Edison is a Dow Jones Sustainability Index company, and has been recognized for its environmental performance by the global Carbon Disclosure Project (CDP), Innovest Strategic Value Advisors, the U.S. Environmental Protection Agency, the U.S. Department of Energy, and other organizations. Visit our green site at www.conEd.com/thepowerofgreen/, or find us on Facebook at Power of Green.

For questions or more information please contact:
Dawn Insanalli
Public Relations Office
Iona College, 715 North Avenue, New Rochelle, N.Y. 10801
Office: (914) 637-2726
Fax: (914) 637-2711
dinsanalli@iona.edu