Past Honeywell Energy Savings Finance Future Pa. Retrofit
The Harrisburg Housing Authority (HHA) in Pennsylvania will help finance the renovation of a vacant housing complex using guaranteed energy savings from previous Honeywell-led improvements at other authority-owned properties.
Some $10.8 million of the $21 million needed to renovate the 159-unit Jackson Towers complex will be drawn from previous Honeywell-guaranteed energy savings. Those prior efforts have helped HHA save nearly $1.3 million in annual utility and operating costs through efficiency upgrades in more than 1,700 housing units.
At Jackson Towers, Honeywell will install energy-efficient windows, modern heating and cooling equipment, and will update the building envelope to minimize the loss of conditioned air. The company will also put in a new elevator system and emergency generator and upgrade exterior insulation and finishing systems in the 14-story complex.
The new project was made possible after changes to Pennsylvania legislation in 2010 that allows housing authorities to extend the terms and associated guarantees of existing performance contracts by up to eight years, for a maximum of 20 years. HHA can leverage the continued savings to help restore Jackson Towers as a result.
Public housing authorities in particular have a significant need for this type of financing. According to the US Department of Housing and Urban Development, annual funding levels for public housing authorities have decreased from $3 billion in 2000 to $1.8 billion in 2013. In addition, average utility costs per unit increased more than 40 percent from 2004 to 2011 due to higher energy rates and building systems that have exceeded their useful life.
In April, it emerged that Energy Outreach Colorado had worked with the sustainability manager for a 53-unit, low-income complex – Denver’s Grace Apartments – to replace two aging boilers and to retrofit lighting. EOC also helped the multi-family residence obtain financing for the upgrades.
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