December 2, 2023
5 Things to Know: Week Ending December 2
New data reveals progress in modern lighting controls. Plus, Orion faces an impending challenge it may avert in the coming days.
Here's a roundup of some of the week's happenings curated to help lighting people stay informed.
In a comprehensive report by the Northwest Energy Efficiency Alliance (NEEA), the latest market progress evaluation for their Luminaire-Level Lighting Controls (LLLC) Initiative is detailed, building upon the initial findings from 2021. This initiative aims to standardize LLLC in commercial lighting, leveraging individual light fixtures with built-in sensors and controllers for enhanced communication and programmability.
The report highlights NEEA's efforts from 2016 to early 2019 in overcoming market barriers like cost and product readiness, including developing specifications, research for utility incentives, and installer training. With the program entering a market development phase in 2019, the focus shifted to increasing LLLC promotion, educating industry members, and developing case studies to underscore LLLC's benefits.
The NEEA LLLC Initiative has made significant strides in market adoption, with 11 out of 12 possible utility programs establishing LLLC incentives by 2022, reflecting a concerted effort to integrate this innovative technology into mainstream commercial lighting.
Remarkable progress in training and awareness: 71% of surveyed lighting installation companies now have at least one installer trained in LLLC, and 82% of designer/specifier companies are aware of LLLC, indicating a growing expertise and recognition of LLLC within the industry.
LLLC's ease of installation is increasingly recognized, with 74% of experienced installation companies reporting that LLLC systems are easier to install than other networked lighting control systems, highlighting LLLC's practical advantages in the commercial lighting sector.
Scientific American sheds light on a strategy by the U.S. Department of Energy (DOE) to significantly cut carbon emissions and energy costs. By urging states to adopt stronger energy standards for new buildings, the DOE believes that the U.S. could see a reduction in future carbon emissions by nearly 2 billion metric tons and a $180 billion reduction in energy bills over 30 years.
This approach to stricter building energy standards across the 50 states, equivalent to taking 445 million gasoline-powered cars off the roads, involves no new technology or infrastructure, emphasizing the power of updated building energy codes.
FUN FACT: Arizona ranks first in projected savings and reductions — both in total and per-capita numbers — in part because its building energy code is more than 14 years old.
A year ago, Wisconsin-based Orion Energy Systems (OESX: Nasdaq) was experiencing a stable stock price, consistently trading above $2 per share on the Nasdaq stock exchange. Fast forward to today, the situation has markedly changed, with a stock price of $0.91 per share as of yesterday’s market close. This downward trajectory places Orion in a precarious position concerning Nasdaq's regulations, specifically the Minimum Bid Price requirement.
If a company's stock bid price stays below $1 per share for 30 consecutive trading days, Nasdaq will issue a deficiency notice. Nasdaq rules allow a 180-day period from the notice date to meet the minimum bid price requirement. During this time, the company's stock must maintain a minimum bid price of $1 or more for ten consecutive business days to prevent delisting.
Orion Energy Systems last saw its stock trading above $1.00 on November 8th, sixteen trading days ago. This date marks the beginning of a crucial countdown. If the stock fails to recover above the $1 threshold within the 30-trading-day window, the company will likely receive a warning letter from NASDAQ, initiating the compliance procedure.
Source: Trading View