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EcoSecurities has signed an agreement with Green Light New Orleans to reduce greenhouse gas emissions by replacing New Orlean's three million light bulbs with more efficient, low energy lights. The agreement sees Eco Securities helping create and sell carbon offsets to allow Green Light to raise funds for the project.
Green Light New Orleans has replaced 60,000 incandescent bulbs with compact fluorescent lights (CFL) throughout the New Orleans community and is replacing bulbs at a rate of 15,000 per month. Lighting accounts for 20-25% of electricity consumed in the U.S. and replacing just one incandescent bulb will keep 500 pounds of carbon dioxide out of the atmosphere over the life of the bulb. Replacing three million bulbs will reduce an amount of carbon equivalent to the emissions generated from more than 100,000 cars in a year.
The program is funded from private sources, including donations from businesses and individuals, and now from the carbon offsets generated by the project. Lighting accounts for 20-25% of electricity consumed in the U.S. and replacing just one incandescent bulb will keep 500 pounds of carbon dioxide out of the atmosphere over the life of the bulb.
Funding from carbon offsets could raise more than $3 million, depending on the number of bulbs replaced. Support from a partnership between Coca Cola and the New Orleans Saints resulted in a $50,000 donation in 2007 and more recently Entergy pledged $100,000 to support the project.
Project founder and musician, Andi Hoffmann moved to New Orleans from Switzerland 15 years ago and started Green Lights New Orleans after the devastation of Hurricane Katrina.
"By working with EcoSecurities we were able to harness the value of the carbon emissions we are avoiding through reduced energy consumption from the CFL bulbs. We hope to fund 25-30% of the project through offsets with the help of EcoSecurities, which will make a huge contribution to its success."
Low energy bulbs use on average 75% less energy. By replacing all the bulbs in a house, around 30 bulbs on average, over $1,350 can be saved over the lifetime of the new bulbs for some of the city's most impoverished inhabitants. this reduction in energy usage also means fewer greenhouse gas emissions are generated.
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