JCPenney Teams with U.S. Department of Energy to Adopt Energy-Efficient Building Technologies
PLANO, Texas--(BUSINESS WIRE)--
Recognizing J. C. Penney Company, Inc. (NYSE:JCP) for its long-term commitment to energy efficiency, the U.S. Department of Energy's (DOE) National Energy Technology Laboratory has selected the Company to join in its effort to encourage adoption of energy-saving technologies for new and existing commercial buildings.
JCPenney is among 21 companies, including some of America's largest retailers, commercial real estate firms and financial institutions, selected to receive awards totaling $15 million as part of the Net-Zero Energy Commercial Building Initiative. JCPenney and other recipients will team with two of the DOE's National Laboratories on projects to achieve cost-effective savings of 50 percent above the standard set by the American Society of Heating, Refrigerating and Air-Conditioning Engineers for new commercial building designs, and a savings of 30 percent for retrofits to existing buildings.
Each company selected will have their design and facility management teams work with the DOE's Pacific Northwest National Laboratory and National Renewable Energy Laboratory to design, build, tune and operate at least one new prototype building and to retrofit an existing building project for 50 percent and 30 percent energy savings, respectively.
The funding provides access to the labs' unique expertise in low-energy building design and retrofitting. The DOE intends to share insights gained from the projects to improve the energy efficiency of commercial buildings nationwide. In 2007, commercial buildings consumed about 19 percent of U.S. energy and accounted for 18 percent of greenhouse gas emissions, according to the DOE.
"We are honored to be part of this unprecedented collaboration to save energy and discover cost-effective ways to increase the efficiency of commercial buildings nationwide," said Jim Thomas, JCPenney vice president and director of corporate social responsibility. "This partnership has the potential to make a significant impact on the country's business and energy future."
As a member of the DOE Retailer Energy Alliance, the U.S. Government's ENERGY STAR program and two-time ENERGY STAR Partner of the Year recipient, JCPenney is committed to building on its legacy of environmental stewardship and social responsibility. Over the past six years, JCPenney has invested more than $100 million to install energy management technology, lighting retrofits and high-efficiency heating, ventilation and air conditioning (HVAC) systems in its stores. Approximately 800 stores are equipped with an Energy Management System (EMS), which provides remote monitoring of the store's electrical and mechanical systems, schedules the operation of lighting and HVAC equipment, monitors store comfort levels and identifies opportunities for saving energy. While working to reduce overall energy consumption, JCPenney is exploring renewable energy projects and recently announced it will host rooftop solar power installations at 10 stores and a wind power project at one of its distribution centers.
JCPenney is one of America's leading retailers, operating 1,082 department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, jcp.com, and the nation's largest general merchandise catalog business. Through these integrated channels, JCPenney offers a wide array of national, private and exclusive brands which reflect the Company's commitment to providing customers with style and quality at a smart price. Traded as "JCP" on the New York Stock Exchange, the Company posted revenue of $19.9 billion in 2007 and is executing its strategic plan to be the growth leader in the retail industry. Key to this strategy is JCPenney's "Every Day Matters" brand positioning, intended to generate deeper, more emotionally driven relationships with customers by fully engaging the Company's 155,000 Associates to offer encouragement, provide ideas and inspire customers every time they shop with JCPenney.
Source: J. C. Penney Company, Inc.
Released October 2, 2008