The Seoul Metropolitan Government has announced that it is embarking upon energy-saving measures for commercial buildings that are open 24 hours a day and consequently consume a large amount of electricity.
Currently, buildings in the city devour around 58 percent of all electricity supplied to Seoul. As its first step in reducing the power consumption of these buildings and helping defuse an imminent energy crisis in the metropolis, the city government is focusing on the improvement of energy efficiency at commercial buildings that do business around the clock.
As such, Seoul City is expanding the application of ESCO (Energy Service Company) benefits to commercial buildings such as fast-food chains that are open 24/7. An ESCO installs energy-saving facilities, including the replacement of light bulbs with high-efficiency LED lamps, at no cost to the beneficiary. It recovers its investment through the beneficiary’s energy cost savings over a period of time.
Typically fast-food chains or railway stations doing business 24 hours a day are very popular to ESCOs as their investment periods are shorter and the investment risks are lower. Thus plenty of ESCOs are interested in carrying out BRPs (Building Retrofit Project), including the installation of LED light bulbs, for these facilities.