As municipalities seek to reduce expenses, smart streetlights are emerging as a unique and financially viable solution.
Cities can slash greenhouse gas emissions and net a 40- to 85-percent energy and maintenance savings by switching to light-emitting diodes (LEDs) and installing control systems. This substantial savings funds the LED upgrades and other smart city initiatives.
Smart streetlights can support numerous smart applications, many of which can generate ongoing revenue, such as digital signage, parking applications and information kiosks.
Streetlights with communications and sensors form a networked technology platform. These sensors convey important city data, such as air quality, traffic and noise levels to help cities manage conditions. They can also be vital components of safety services such as gunshot detection, security monitoring and emergency lighting, all of which will boost security. Wi-Fi hotspots, music speakers and e-bike charging bases cultivate city appeal and convenience. Over time, a city can add applications onto the technology platform, expanding services and linking systems.
Streetlights hold abundant value. We work with our technology and financial partners to arrange customized packages that unlock the full economic potential of streetlights. We analyze energy/maintenance savings, technology needs and all potential revenue streams such as streetlights, buildings and parking spaces, to estimate a city’s energy/maintenance savings return.
Depending on the revenue streams available, cities can capture returns that exceed their energy savings, yielding a net-positive venture with no up-front capital.