Today Homestead Land Holdings Limited received recognition from Kingston Hydro for the second largest energy reduction initiative undertaken as part of the Electricity Retrofit Incentive Program (ERIP). ERIP is a province wide program designed to encourage businesses to reduce energy consumption by switching to more energy efficient technologies. Homestead's project included the replacement of 32,540 inefficient incandescent light bulbs with compact fluorescent bulbs in 39 buildings in Kingston, resulting in an annual energy savings of 3,321,683 kWh's and a total demand reduction of 1,432 KW. A further initiative being planned is the replacement of all inefficient exit signs with energy efficient LED units. Homestead Land Holdings is one of Canada's largest landlords and an industry leader in "green initiatives." The Kingston-based organization owns and manages 188 properties province-wide, in addition to properties in Naples, Florida. They have completed several energy efficient building retrofits, and strive to procure environmentally friendly cleaning products and biodegradable garbage bags throughout their portfolio. Furthermore, they have replaced over 22,000 toilets across the province with low-flow models. The ERIP program is funded by the Ontario Power Authority and locally managed Kingston Hydro. Targeting commercial and industrial customers, the ERIP program offers rebates for energy efficient upgrades to electrical systems.