San Mateo to Get $3M for LED Streetlights

During its first business meeting of 2015, the California Energy Commission (CEC) approved nearly $18 million to fund projects that will help the state meet its climate and energy goals. Twelve million dollars will go toward three alternative fuel projects, $4 million will help fund two geothermal projects and $3.56 million will help fund local energy efficiency projects.

The CEC approved $3,562,000 in loans through the Energy Conservation Assistance Act (ECAA) program for two cities – one of which is San Mateo.  San Mateo will receive a $3,000,000 loan at one percent interest to replace more than 5,000 streetlight fixtures with LED lighting. The project is expected to save about $270,000 annually in utility expenses. The city also anticipates receiving $404,000 in utility incentives. The simple payback on the loan is 11 years. (The City of Morrow Bay will receive the remaining $562,000.)