Princeton Energy Systems Drives Down Energy Usage and Costs
David Smith sees opportunity everywhere, from supermarkets to municipalities to industrial facilities. As CEO of Princeton Energy Systems (PES), Smith works with clients to turn energy inefficiency into cost savings and environmental benefits.
“Inefficient energy use is an opportunity for a company to generate cash in the form of savings,” Smith says. “And when we save money for our clients, we reduce waste and help the environment.”
PES develops and implements innovative energy projects using advanced efficiency technologies, solar electric and other renewable and on-site energy generation systems. From biogas-fueled cogeneration and solar photovoltaic energy to advanced lighting and energy management systems, PES is constantly looking for new technologies that enable greater energy efficiency.
Taking a Managed-Risk Approach
“Conventional energy service companies typically work with older technologies and are fundamentally risk averse,” Smith says. PES takes a managed-risk approach through careful screening, pilot projects and beta testing. “Even an entity that did something five years ago can drive costs lower, and we can help by bringing in new technologies.”
Depending on the client, environmental concerns can be the primary driver. “Our project with Whole Foods was about more than simple economics,” Smith says. “They had an environmental objective that addressed the values of their customer base and stakeholders.” For this high-end national grocery chain, PES developed and helped install the first-ever commercial photovoltaic system linked to in-store direct current lighting.
In other cases, the decision to enlist PES’s expertise is driven by economics. “Energy is such an all-encompassing core consumable that it is intrinsically tied to the health of our economy,” Smith says. “Businesses now recognize that supply volatility impacts cost predictability, and from a business standpoint, there are real risks associated with that. Most facilities and communities have inefficient energy systems just begging to create cash flow.”
Lowering Energy Costs
Another client, the township of Wayne, New Jersey, is facing escalating budgets and increased demands for services. PES is working with the municipality to deploy an integrated energy infrastructure using solar electricity, on-site cogeneration and several advanced energy-efficiency technologies that will lower the township’s energy costs, freeing up needed cash and creating a positive impact on the environment.
BFTP invested $200,000 in PES last summer to help the company implement projects focused on industrial and public wastewater facilities. These facilities very often utilize an anaerobic treatment process that results in biogas — a valuable form of renewable energy.
Harnessing Biogas as Energy
“Currently a handful of technology companies build these treatment systems, but they typically don’t fully harness the biogas as energy,” Smith says. “The economics of optimized energy capture and utilization adds a whole new dimension.” With BFTP’s help, PES is pursuing a strategy to design and build biogas-fueled cogeneration systems that both generate electricity on-site and capture waste heat to feed back into the process. This approach to electricity generation and heat recovery reduces both harmful air emissions and dependency on nonrenewable fossil fuels.
Wastewater and biogas will play a big role in the company’s plans. PES currently has seven full-time employees and seven independent contractors, including a wastewater specialist, to help execute this strategy. “We are in a growth mode and will continue to bring innovative technology solutions to customers seeking energy, economic and environmental benefits,” says Smith.
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