Housing Authority Signs $37.4M ESPC with Ameresco
The Housing Authority of the Birmingham District in Alabama and Ameresco announced a $37.4 million energy savings performance contract (ESPC) that is estimated to save over $66 million in the housing authority’s utility and water costs over the next 17 years.
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 and HVAC and mechanical upgrades in six 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 continue into 2017.
Ameresco completed an energy audit for the housing authority that identified the efficiency opportunities, and HUD provides incentives to implement the recommendations.
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