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- Honeywell-Led Program Provides an Example for Reducing Energy Expenses in Schools across the State - Potential Savings from Similar Efforts in All New Jersey School Districts: $140 Million Each Year MINNEAPOLIS, Aug. 26, 2014 Honeywell (NYSE:HON) today announced it is leading an energy savings improvement program for New Jersey-based Hillsborough Township Public Schools to help boost energy efficiency, reliability and comfort in the district's facilities. When complete, the upgrades are expected to reduce the school district's annual operating costs by approximately $1 million, while promoting a better learning environment for students and faculty.The district will fund the program with a $1.7-million rebate available through "Pay for Performance", a component of New Jersey's Clean Energy Program that provides incentives for implementing whole-building energy improvements, along with a $15-million energy performance contract with Honeywell. The performance contract enables Hillsborough Township school district to address certain building infrastructure needs using the annual energy cost savings that result from the improvements. The savings are guaranteed by Honeywell, which allows the school district to tackle the work without additional capital funds or taxpayer dollars."It's a challenge for school districts like ours to budget for facility needs," said Dr. Jorden Schiff, superintendent of Hillsborough Township Public Schools. "We want our resources directed to students, but realize the physical space is extremely important. With this program we don't have to choose between student-focused initiatives and more modern buildings."The work, which includes a variety of heating, cooling and energy-management upgrades, is expected to cut the district's energy use and costs almost 50 percent. According to the U.S. Environmental Protection Agency, schools spend approximately $75 per student on gas bills and $130 per student on electricity each year. If all the districts in New Jersey were able to trim the2-Hillsborough Township Public Schools same amount of energy consumption as Hillsborough, the state could save approximately $140 million annually."Opportunities to reduce energy costs are abundant, but the age-old question for schools is, how do you find money to save money?'" said John Rajchert, president of Honeywell Building Solutions. "Performance contracts help districts and other public entities fund vital improvements through guaranteed savings so they can capture and redirect those dollars, and avoid stretching already lean budgets."As part of the program, Honeywell will implement a combined heat and power (CHP) system at Hillsborough High School and Hillsborough Middle School that will help heat the buildings more efficiently and effectively, and supply some of the energy needed to operate the facilities. It will also provide some back-up power in the event of an outage, which is important since the high school may serve as a community shelter.Additionally, Honeywell will update existing lighting systems in the district's buildings and parking lots with efficient, long-lasting LED technology, and replace old boilers with energy-saving units, among other improvements.The conservation measures are helping fund the installation of air-conditioning equipment in the high school and middle school as well, which will make classrooms more comfortable. And, from an environmental perspective, the program will cut an estimated 2,400 metric tons of carbon dioxide emissions annually equivalent to removing almost 420 cars from the road.Honeywell has completed 12 guaranteed efficiency projects in government buildings and schools in New Jersey since 2009. Combined, the work is expected to deliver more than $6 million in annual energy and operational savings.For more information visit Honeywell Building Solutions or follow @HoneywellBuild on Twitter. Honeywell ( is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; turbochargers; and performance materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. 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