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Summary

Johnson Controls, the global leader for smart, healthy and sustainable buildings, is collaborating with the Newark, N.J., Board of Education under a $95M Energy Savings Improvement Program (ESIP) initiative. The far-reaching sustainability effort will modernize 60 schools throughout the district by implementing Johnson Controls' energy-efficient, water saving and renewable energy solutions.

In recognition of its innovative approach to municipal financing, Newark's ESIP was selected by the Bond Buyer editorial board to receive its 2021 Environmental, Social and Governance (ESG)/Green Deal of the Year award, celebrating its creativity, community impact and potential to act as a model for similar financing projects. As a national trade publication with its finger on the pulse of the municipal bond industry, Bond Buyer has identified and honored the most outstanding municipal finance transactions for over 20 years.

"By investing in building decarbonization, we are investing in a greener future for Newark and a healthier one for our youth," said Newark Mayor Ras J. Baraka. "This is an excellent example of how our city can support clean energy, improve environmental health and train the next generation of sustainability leaders."

Under the ESIP, Johnson Controls supported the sourcing and installation of solar photovoltaic (PV) arrays, whose energy savings will be monetized to further support updates throughout Newark Public Schools. In addition, Johnson Controls will implement a wind turbine, combined heat and power units, updated building automation, centralized enterprise management systems, retrofitted indoor and outdoor LED lighting, replaced boilers and chillers, and upgraded HVAC and water conservation systems.

As an extension of this effort, Johnson Controls financing experts helped secure an additional $1.8M for the Newark Board of Education. This capital will support the replacement of inefficient and aged plumbing fixtures, reducing water usage by approximately 30%. These funds were awarded as part of New Jersey's new $180M School and Small Business Energy Efficiency Stimulus Program, which also offers the potential to secure an additional $5M to support HVAC upgrades.

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