Ameresco recently commenced construction on a project with the Syracuse Housing Authority (SHA) in upstate New York via an energy savings performance contract (ESPC). With the ESPC, the project will be financed using savings from the new lighting, attic and wall insulation, water conservation measures, temperature controls and other improvements. In addition, the US Department of Housing and Urban Development (HUD) will provide incentives for the efficiency improvements.
Ameresco developed a first phase of energy work for SHA in 2000, providing mechanical improvements and fuel cost savings in two high rises, covering 313 units. This new initiative addresses 2,000 additional units. With the new upgrades, savings are expected to total over $7.5 million over the 16-year contract term.
Construction of the project will continue through 2015.