The savings will free up money to keep improving the building, said the (Corner Brook, Newfoundland & Labrador) civic centre's governing Western Sports and Entertainment Board acting chair Bernard Stratton.
He said over 30 per cent of the Pepsi Centre's budget is spent on energy costs.
The money saved will be going back into the building to replace flooring and chairing, general maintenance and keeping on top of new standards, he said.
"The building is not an old building, but it is aging and does need some TLC," Stratton said about the facility built for the 1999 Canada Winter Games.
General manager Will Smith, said the public has not fully seen the effects of the upgrades, as many changes were made after the ice was removed for the season.
When the ice returns in July, he expects public reaction to be positive as upgrades to the fitness centre have already been generating positive feedback from gym users. Smith said fitness centre users greatly appreciate the new energy efficient lighting.
He said the new light livens up the space and casts less shadows.
Lighting is only one aspect of the upgrades that was part of the 14-month upgrade process through the province's Green Fund.
The energy and facility renewal project was started in partnership with the City of Corner Brook, with upgrades completed by Honeywell Building Solutions.
Other efficiency efforts were directed toward installing automatic control systems and facility upgrades, such as insulating pipes and fittings.
The upgrades estimate to reduce carbon dioxide emission by 121 metric tonnes per year.
The project cost $700,000, of which the Department of Environment and Conservation, contributed $305,000.
Energy efficiency projects, such as this one, usual pays itself back in 12 years, said Honeywell business development manager, Michael Pringle.
The Pepsi Centre is well above that standard, he said, with repayment due in approximately eight years.
Pringle said the contract guarantees the facility's upgrades will save the civic centre $88,000 per year, if not, Honeywell will pay for the shortfall.
Pringle said his company is in talks with four other provincial municipalities to upgrade town's building, including Gander.