"High-efficiency equipment is key to lowering energy costs and reducing usage, and we are working closely with the experts at SCE to create a solid energy action plan throughout our portfolio," said Villar. "We are partnering with SCE to implement their free environmental programs to immediately lower electrical bills and realize significant savings."
SCE's no-cost conservation program provides owners with up to $10,000 in energy efficient light bulbs and fixtures per meter at approved commercial properties. In addition to lower annual energy costs, Towbes, which has 31 meter contracts with SCE, can save as much as $310,000 in installation costs across its portfolio.
According to Southern California Edison, energy action plans typically can save property owners up to 15 percent of annual energy costs, reduce operating expenses while providing quicker returns on investment. Most importantly, there is no payback period because the implementation is completely free. The program also assists property owners with savings in air conditioning, food service equipment, refrigeration, agricultural equipment and premium efficiency motors.
"Our work at Castilian Technical Center is the just the first step towards our goal of implementing similar conservation programs throughout all of our properties under our management. We have already begun this process at several other commercial properties in our portfolio. We are excited about both the long-term financial benefits as well as the opportunity to reduce our carbon footprint in the environment,"
Castilian Technical Center is a Class A research and development facility located in the heart of Goleta's business district. Multiple buildings accommodate tenants ranging in size from 5,000 square feet up to 86,000 square feet. The property is adjacent to Tecolote Creek and offers a variety of amenities, easy access to Highway 101 and prominent signage on each building.
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About the Towbes Group, Inc.
The Towbes Group, Inc. www.towbes.com is a fully integrated real estate investment, development and property management company. Founded in 1960, the Santa Barbara, CA-based firm has developed more than two million square feet of commercial real estate and nearly 6,000 single family and multifamily units in the Tri-county area. With more than two million square feet under management, Towbes Asset Management provides asset and property management for its own portfolio and third party clients.