Aug 14 2015
The Housing Authority of the Birmingham District (HABD) and Ameresco, Inc., a leading energy efficiency and renewable energy company, jointly announced a $37.4 million energy performance contract that is estimated to save over $66 million in HABD’s utility and water costs over the next 17 years.
The Housing Authority of the Birmingham District Partners with Ameresco on Energy Performance Contract (Graphic: Business Wire)
Energy and water efficiency improvements will be made at 14 developments encompassing more than 4,100 apartments. Work will include lighting and water upgrades, temperature controls, refrigerator replacements, building envelope improvements, heating, ventilation/air-conditioning (HVAC), and mechanical upgrades in 6 of the 14 sites. Savings in energy and water costs from the installation of the measures are anticipated to cover the annual costs of the financing throughout the contract term.
Construction of the project will begin this month and will continue into 2017.
“In times of declining HUD funding, the Energy Performance Contract Program offered by HUD provides a means to reducing overall operating costs of HABD while improving our facilities,” said Naomi Truman, HABD’s Executive Director. “Ameresco completed an Energy Audit for HABD that identified the efficiency opportunities, and HUD provides incentives for us to implement the recommendations. We also anticipate that the construction for this project will provide jobs to the local community and to our residents.”
“Ameresco is pleased to partner with HABD to implement the largest public housing energy performance contract in Alabama,” said Louis Maltezos, Executive Vice President, Ameresco. “This project provides needed energy-related improvements to HABD that are paid completely from the savings achieved on the project.”
The U.S. Department of Housing and Urban Development (HUD) provides incentives for efficiency and renewable energy improvements. Under an energy performance contract (EPC) financed using savings from HABD’s utility operating funding, there is no up-front cost required of HABD. With more than 30 years of experience, Ameresco’s public housing energy specialists have implemented performance contracts with project capital exceeding $460 million, more than any other North American energy services provider in this sector. Ameresco has implemented improvements for over 130,000 households (and counting) under performance-based energy and water services contracts.
Source: http://www.ameresco.com/