I've seen discussions similar to this, but now I'm facing the decision. I have a private school (25000 s.f.) that I designed using 208/120v 3-phase. At the time, changing the voltage was not an option...but now, the utility co. is saying they will be replacing the transformer any way, and we have a choice. I know there are greater I squared R losses associated with the lower voltage, but how much does this affect actual energy costs. We're in Arizona, so air conditioning will be the heaviest load. All the A/C and lighting will be new. Of course, I'd have to add transformers for the 120/208v recepts, etc.