Businesses in Ontario are being offered the opportunity to save energy by participating in a joint venture of an electrical energy conservation company and the Toronto Atmospheric Fund (TAF). Legend Power Systems is offering multi-location companies in Ontario the chance to use its patented Harmonizer to save on their energy bills. The Energy Savings Performance Agreement (ESPA) is risk free and requires no up-front cash, according to a release about the project. Participating businesses will “save energy and reduce their carbon footprint with zero capital outlay.”
Legend says that the project is being launched in response to the business community’s desire to save energy. The energy-conservation solutions necessary to achieving that goal are available, Legend says, but adoption of these solutions has been slowed by “two common objections,” a lack of capital, and uncertainty about product performance. “The ESPA addresses these objections by providing building owners with a zero capital cost acquisition model and a long term energy savings guarantee of up to 10 years that is backed by a third party insurer.”
Under the terms of the ESPA, the money saved through reduced energy use is shared with TAF throughout the term of the agreement, after which the Harmonizer will remain installed and operational. “The ESPA removes the Harmonizer’s perceived financial risks and reduces the capital cost to zero.”
Legend’s Harmonizer saves energy by adjusting a building’s voltage “to an efficient level” so that excess power is not wasted. According to Legend, the power and voltage delivered to a building are typically higher than necessary. This is explained by inefficiencies in the power grid itself, but the result is that buildings are paying for energy that they don’t actually use. “Legend power eliminates this hidden energy waste and provides guaranteed energy savings.” The Harmonizer can reduce energy consumption and electrical bills by up to 8 per cent.
According to Legend, the savings through voltage optimization will vary from building to building, but a “typical commercial facility” can expect to save $14,000–$20,000 per year.
The Harmonizer is described as an auto transformer that manages voltage. It reduces incoming voltage, while providing “fail safe” protection against brown outs in the event of a voltage drop from the utility.
The Toronto Atmospheric Fund was set up by the city in 1991 (Toronto Atmospheric Fund Act, 1991, 2005) to promote energy conservation and to help the city meet its clean air and greenhouse gas emissions reduction targets.