Progress unveils conservation plans for businesses

Days after rolling out what it said would be the first of many plans to conserve electricity, Progress Energy on Thursday announced three new initiatives aimed at the construction industry.

The first plan, known as Home Advantage, would pay builders and developers to build residences that meet federal Energy Star qualifications. The program also would pay builders for installing efficiency equipment, including rebates of $1,000 for installing solar water-heating systems in new homes.

Progress' remaining two plans deal with commercial and industrial construction. The utility says it will provide "custom financial incentives" to commercial builders to help them recoup the costs of using energy-efficient measures on their buildings. It also will pay customers to retrofit existing facilities for energy efficiency.

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Progress Energy (NYSE: PGN) says the plans are part of its overall goal of doubling the energy savings it gets through efficiency programs. Earlier this week, Progress announced the first two programs, which would include upgrades to its distribution lines and the ability to remotely control customers' air conditions during times of peak energy use.

Customers of the utility would pay for the plans, which must be approved by the North Carolina Utilities Commission.