Enterprise's '20/20 Vision' Plan Aims to See $50M in Energy Savings

Enterprise's '20/20 Vision' Plan Aims to See $50M in Energy Savings

Car rental giant Enterprise Holdings unveiled a new sustainability initiative Thursday aimed at reducing energy costs by $50 million.

The initiative, called 20/20 Vision, seeks to reduce energy consumption and costs by 20 percent over the next five years at the company's vast network of neighborhood car rental branches and airport facilities. It began as a pilot in 2009 in select markets and is now being rolled out companywide.

“Proactively reducing our energy use and natural resource consumption not only decreases our impact on the environment, but also will result in cost savings to ensure the sustainability of our business,” Lee Broughton, the company's director of sustainability, said in a statement.

Enterprise Holdings, which counts among its brands Alamo Rent a Car, Enterprise Rent-A-Car, National Car Rentals, and Enterprise Fleet Management, estimates it has spent or committed more than $120 million to environmental initiatives in recent years.

The company takes a long view on energy efficiency investments, requiring the ROI to be five years or less. The company's Chairman's Task Force on Sustainability identified a slew of energy-saving opportunities to roll across the company, such as new software and lighting retrofits.

The company noted Thursday that a $107,000 investment in new lighting in the parking garage of its St. Louis headquarters will save $50,000 in annual energy costs. Similarly, a $20,000 investment in new lighting in the parking garage of its Southern California administrative offices will generate $14,000 in annual energy savings.

20/20 Vision is the latest initiative for a company that began embracing sustainability in recent years with an environmental platform that included a stronger focus on improving the fuel efficiency of its fleet, offering customers car sharing programs and the chance to offset the carbon dioxide emissions of their trips, and promoting tree planting and renewable fuels research programs.