Housing Authority to Save $60M with New Energy Performance Contract
The San Francisco Housing Authority entered a $30-million energy performance contract (EPC) with energy efficiency and renewable energy solutions provider, Ameresco, Inc., that will bring energy saving measures to 37 developments and over 5,000 units throughout SFHA, according to an Ameresco corporate statement.
SFHA expects annual savings of approximately $3.5 million over a 20-year period, and will realize total savings of $60 million during the 20-year contract term.
The program includes upgrades to lighting, plumbing, boilers, water heaters, furnaces, decentralized heating fixtures, cogeneration, improved energy management systems and building ventilation, as well as new windows at some sites. Construction is expected to begin in January and conclude within two years, according to the release.
This is the second project for Ameresco and the SFHA funded through the 2009 economic stimulus plan, the American Recovery and Reinvestment Act. Earlier this year, the two parties signed an $11.7 million contract, the company reported.
The ARRA provides $4 billion to Department of Housing and Urban Development (HUD) to rehabilitate and retrofit public housing in order to increase the energy efficiency of units, as well as an additional $510 million for Native American housing programs. HUD will receive an additional $250 million to increase the energy efficiency of HUD-sponsored housing.
EPCs have existed for 25 years as a mechanism for public housing authorities to leverage private capital investment by using the achievements in energy and water savings pay for the cost of the project. In this time, EPCs have leveraged more than $700 million in private capital for energy projects, according to the SFHA release.
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