BrandsMart Retrofits with PACE
Electronics retailer BrandsMart USA hired ABM to complete a facility-wide energy conservation project, which is expected to save BrandsMart’s South Dade County, Fla., location 34 percent on its annual utility costs.
The project is funded through the Ygrene Energy Fund’s PACE financing.
The retrofit includes major enhancements to the facility’s heating and cooling equipment, replacing lighting fixtures with LEDs, and modifying the existing energy control system.
In all, the BrandsMart USA location is projected to save $135,000 in annual costs and more than $1.6 million over the life of the contract.
The program known as Property-Assessed Clean Energy (PACE) allows BrandsMart USA to pay for the energy upgrades over time. Under PACE, projects are repaid through an annual assessment on the property tax bill that is linked to the property as opposed to the owner. BrandsMart USA’s energy improvements fall within South Florida’s Clean Energy Green Corridor PACE District. The deal taps into the Clean Energy Corridor’s $230 million bond issuance financed through private capital.
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