Belleville, New Jersey (PRWEB) September 27, 2014
A record number of attendees and exhibitors are expected to fill The Borgata Hotel in Atlantic City for the 38th Annual New Jersey Healthcare Financial Management Association (NJ HFMA) Expo on Oct. 8-10. One of the featured speakers at the popular event will be energy industry expert Paul Errigo, director of business development for GREENCROWN Energy LLC, who will address the human, economic and environmental benefits of Cogeneration.
“Energy-related topics have never been so timely for hospitals and healthcare facilities both from a patient safety and financial standpoint,” Errigo said. “Certainly, with the anniversary of Hurricane Sandy rapidly approaching, we all remember the importance of having dependable power at hospitals when so many diesel-powered generators failed in time of crisis.”
HFMA, which stages the Healthcare Financial Management Association Expo, is the nation’s leading organization for healthcare finance leaders with over 40,000 members. “I’m always proud to speak before these professionals because they are so interested in new technologies and ways to make their hospitals more economically viable and sustainable. Energy-related matters and Cogeneration (CHP) certainly fit that bill,” Errigo said. “The goal of our presentation is to further educate hospital executives on why Cogen represents an extremely cost-effective alternative for not only reining in energy costs charged by the utilities, but providing dependable, potentially life-saving power in the event of massive power failures, such as those that occurred during Hurricane Sandy.”
The proven savings available to hospitals moving to Cogeneration are significant, Errigo stressed. “When we tell audience members that they can cut their energy costs by 40 to 60 percent and that the government may pick up more than 50 percent of the costs, we have their undivided attention," he recalled.
Errigo, a sought-after speaker on energy, says that HFMA members quickly recognize the value proposition in Cogeneration. “They understand that today’s on-site CHP power plants require little space and are incredibly efficient, producing very little waste,” he explained. “For example, with a traditional power plant there’s a great deal of waste in the form of valuable heat vented straight into the atmosphere. On the other hand, Cogeneration power plants convert that otherwise wasted heat into usable energy that’s readily available to augment existing boilers and chillers for heating, cooling, domestic hot water or steam, and sterilization. HFMA members also appreciate that this reclaimed energy is free of charge since it’s simply a natural byproduct of Cogen.”
Technological advances in Cogeneration make it a practical and economical alternative to reliance on the US Power Grid, Errigo contends. “Even the US Department of Energy agrees, saying hospitals are ideal candidates for combined heat and power (CHP) systems because they must remain fully powered up all year round," he pointed out. "In addition, the efficiencies and cost savings associated with CHP allow healthcare professionals to utilize those savings for other vital services of their choosing.”
Errigo, who leads a team of highly experienced cogeneration experts at Green Crown Energy, says hospital or healthcare facilities don’t necessarily need to own their on-site CHP Power Plant. “After meeting with HFMA members, and getting to fully understand their energy requirements, we very well could recommend a Power Purchase Agreement (PPA),” he said. “With a Power Purchase Agreement, there is no capital outlay—zero operating expenses—and the client pays only for the energy used at 10 to 15 percent discounted rates. From a financial perspective, this is a boon for budgeting and forecasting, while producing positive cash flow.”
Another bonus is that in terms of the environment and public relations, COGEN-powered hospitals and healthcare buildings are able to call themselves “green” facilities thanks to the super clean way energy is produced, Errigo noted. “The Healthcare Financial Management Association is amazing at providing education, analysis and guidance to its membership, and we’re just proud to help fill in some blanks and answer questions on the topic of Cogeneration at the Expo,” he added.
If you’re interested in learning more about the role CHP can play in your hospital or buildings, along with the multiple forms of electric and gas procurement programs available, contact an energy adviser at http://www.GreenCrownEnergy.com or call 877-308-2727.
About GREENCROWN Energy
GREENCROWN Energy is a full service energy advisory firm specializing in turnkey energy conservation measures, cogeneration systems and energy procurement contracts. GCE provides all development services under one roof, including identifying and obtaining government incentives, project management, design, build, and financing. GCE also provides Power Purchase Agreements for buildings that want an on-site utility with no financial capital investment required, an option that is often attractive to not-for-profit entities, including homeowners associations.