Full-service real estate company Peabody Properties reports attaining more than $15 million in no-cost energy retrofits throughout their portfolio from recent projects. The Braintree, Massachusetts-based real estate and property management firm credits working with utility partners to maximize incentives and rebates.
Peabody Properties describes having a diversified portfolio that tops 11,000 units of housing. The company says that new technology added to existing systems allowed them to realize savings in lighting, refrigeration, boiler, water and weatherization.
The no-cost energy retrofits, which equal $15,845,796, had the following breakdown:
- Lighting retrofits value: $7,329,237
- Boiler retrofits value: $5,778,504
- Water retrofits value: $315,41
- Refrigeration retrofits value: $683,013
- Weatherization retrofits value: $1,739,629
The real estate company estimates that these efforts also equal millions of dollars in energy savings that get passed on to their communities and residents. In addition, Peabody Properties says that property owners have also seen a positive difference on their bottom lines.
“We recognize our duty to be fiscally responsible as well as energy conscious throughout our communities,” said Scott F. Ployer, vice president of facilities and capital planning for Peabody Properties. “The success we have seen within PPI in energy conversation would not have been possible without these partnerships, which have bettered the lives of our residents while producing substantial savings and a more positive environmental impact.”
Peabody Properties worked on the retrofits with a number of Massachusetts-based groups focused on improving the lives of affordable housing residents in the state, including the Low Income Multi Family Retrofit Program (LEAN). The program, which is part of Mass Save, targets high-energy users through the installation of approved energy efficiency measures.
Speaking to Energy Manager Today in 2016, Peabody Properties’ facilities manager for sustainability initiatives said that affordable housing represented 80 to 85% of their portfolio.
The 4th Annual Environmental Leader & Energy Manager Conference takes place May 13 – 15, 2019 in Denver. Learn more here.