Philips Lighting joins AT&T Capital to offer lighting upgrade financing; Program eases up-front expenditures for energy-efficient lighting upgrades.SOMERSET, N.J.--(BUSINESS WIRE)--Nov. 8, 1995--Businesses looking to reduce energy costs and limit resource depletion Resource depletion is an economic term referring to the exhaustion of raw materials within a region. Resources are commonly divided between renewable resources and non-renewable resources. can rely on a new alliance announced today between Philips Lighting Co. and AT&T Capital Corp. to finance the initial investment needed for a lighting system upgrade. Under the agreement, customers will be able to finance the costs of a lighting system upgrade over time and pay off the initial investment from the resulting energy savings. AT&T Capital, a worldwide leader in equipment leasing Equipment Leasing is a financing option to lease equipment for a certain amount of time. Leasing Benefits
"Most businesses understand both the cost and environmental benefits of installing new energy-efficient lighting technology, but some have a difficult time meeting the large initial investment needed for a system upgrade," said Larry Wilton, executive vice president of sales, distribution and marketing for Philips Lighting Co. "By joining Philips product and application expertise with the financing capabilities of AT&T Capital Leasing Services, almost any company can install industry-leading equipment and pay it back from the immediate energy and labor savings." Lighting currently accounts for nearly 25 percent of the electricity consumed in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . As a result, the Federal government passed the National Energy Policy Act (EPACT) of 1992, which was designed to develop and enforce ways of generating and consuming energy more efficiently. Beginning in April of 1994, the law began phasing out several inefficient lamp types. In response to the growing concern over energy-efficient lighting products, Philips has introduced a range of energy-efficient lamps such as the TL-80 fluorescent, MasterLine halogen halogen (hăl`əjĕn) [Gr.,=salt-bearing], any of the chemically active elements found in Group 17 of the periodic table; the name applies especially to fluorine (symbol F), chlorine (Cl), bromine (Br), and iodine (I). , and EarthLight earth·light n. See earthshine. compact fluorescent. Headquartered in Somerset, Philips Lighting markets more than 4,000 lamp types to the retail, commercial, consumer and original equipment manufacturer markets. CONTACT: Ketchum Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most , New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Brad Buyce, 212/878-4654 or Francine Ulbrick, 212/878-4673 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion