Saginaw Plaza signed a $437,000 energy savings performance contract (ESPC) with Ameresco to upgrade its facility in Lansing, Michigan. The facility is currently leased to the State and houses two governmental agencies: the Michigan Agency for Energy (MAE) and the Michigan Public Service Commission (MPSC). MAE/MPSC worked closely with the property owner, Saginaw Plaza, and Ameresco to achieve facility improvements.
This public-private partnership for the efficiency improvements utilizes Michigan’s property assessed clean energy (PACE) statute. PACE financing pays for 100 percent of a project’s costs and is repaid for up to 20 years via the building owner’s property tax bill.
The ESPC with Ameresco includes energy efficiency upgrades and infrastructure improvements such as interior and exterior LED lighting, an energy kiosk, and a new pole-mounted 20 kW solar array.
By utilizing PACE, the owner was able to obtain 20-year, fixed-rate financing for the clean energy measures. Annual energy savings are expected to exceed $25,000. The savings due to reduced energy consumption exceeds the cost of repaying the loan. In addition, Saginaw Plaza is able to take advantage of the tax credits.
Additional energy conservation measures were identified during the energy audit and implemented by the developer including additional insulation, two electric vehicle charging stations and weatherization. In the future, the owner also plans to include a new Michigan-made daylight emulation skylight by Arborlight.
The project is expected to be completed August 31, 2015.