Comment on LED light conversion could save Caribou nearly $100,000 annually

Caribou City Manager Dennis Marker updated councilors on Feb. 11 about the results of an Investment Grade Audit report concerning the potential conversion of Caribou street lights to more efficient and less expensive LED. Marker said the IGA report indicates that the city currently pays about $127,000 annually for its street lights, but that current Emera rate structures show those costs could be cut down to $28,290 following a complete transition to LED. The cost for Caribou to buy the lights from Emera and convert them to LED, according to Marker, is estimated at roughly $304,000, which he said would be paid off through the energy cost savings in just three years. The city manager clarified that additional review of the report and supporting information is still needed to make an accurate assessment, and that he plans to discuss this project with other municipalities that have converted to LED lights. Caribou Mayor Mark Goughan said the plan seems “too good to be true,” as it would provide Caribou with a “33 percent return.” “This kind of return is not uncommon with new lighting tech,” councilor Hugh Kirkpatrick said. Councilors began to seriously pursue this conversion when they approved a study by Maine-based Real Term Energy on Dec.