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Community Investment Corporation "On Bill" Energy Financing Fact Sheet

In cooperation with the utility companies (ComEd, NICOR, North Shore Gas, Peoples Gas), CIC-Energy Savers will soon offer loans for energy retrofits of multifamily (5 to 50 units) properties which can be repaid as an additional item on a utility bill.
Finance Illinois On-Bill Utility Payment Retrofit Utility Incentives & Programs
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130.46KB

Energy Savers Fact Sheet

ENERGY SAVERS helps lower operating costs of apartment buildings by reducing energy usage. FINANCING Energy Savers loans are secured with a second mortgage lien. The first mortgage lender must allow the Energy Savers subordinate loan to be secured with a subordinate mortgage. The property must be: 1. An apartment building with at least five (5) residential units, and 2. Located in the cities of Chicago or Rockford; or the Illinois counties of Cook, Lake, Kane, DuPage, Will, McHenry, or Kendall, and 3. In need of energy-related repairs.
Finance Illinois Incentives Retrofit
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152.9KB

Building Energy Efficiency Partnerships for Affordable Multifamily Housing: 2015 and Beyond

This paper offers a snapshot of the resources devoted to promoting low-income multifamily housing energy efficiency retrofits; it describes many of the policies, public-private resources and partnerships influencing and funding the field in late 2014.
EB5 ESCO Finance Policy Proposal Report/Research Brief Retrofit Utility Allowance Utility Incentives & Programs
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1.78MB

Potential for Energy Savings in Affordable Multifamily Housing

The Natural Resources Defense Council (NRDC), National Housing Trust (NHT), Energy Foundation, Elevate Energy, and New Ecology are conducting a multistate and multiyear Energy Efficiency for All affordable multifamily housing efficiency project with the goal of cost effectively reducing energy consumption as a means of maintaining housing affordability, creating healthier and more comfortable living environments for moderate- and low-income families, and reducing pollution. The project aim is to encourage electric and gas utilities to spearhead programs designed to capture all cost-effective energy efficiency within the affordable multifamily housing sector, significantly benefiting low income families and building owners as well as utilities. NRDC and the project partners commissioned this study to estimate the potential energy savings from the implementation of efficiency measures in affordable multifamily housing in nine states — Georgia, Illinois, Maryland, Michigan, Missouri, New York, North Carolina, Pennsylvania, and Virginia. For this study, affordable multifamily housing is defined as households in buildings with five or more units occupied by people with household incomes at or below 80% of the area median income. The study compared outputs from the different potential scenarios and sensitivity analyses assessed in the study. This study analyzed two levels of potential: 1. Economic potential — savings that can be realized if all cost-effective efficiency measures are implemented 2. Maximum achievable potential — savings that can be realized if all cost-effective efficiency measures are implemented given existing market barriers The study found that the total benefits to society, as defined by the Total Resource Cost test, from pursing energy efficiency substantially exceed the costs.
Policy Proposal Report/Research Brief Retrofit
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10.74MB

Saving Energy in Existing Multifamily Buildings

This presentation explored challenges and opportunities in achieving energy savings in multifamily buildings from an “on the ground” perspective. Using case studies and examples from recent CEE research and energy-efficiency programs, this presentation provides an overview of technologies and strategies that have proven to be effective and marketable energy-efficiency measures in Minnesota multifamily buildings, including: ventilation system retrofits, optimizing boiler control systems, optimizing condensing boilers, retrofitting trash chutes, and adding demand-based controls to domestic hot water recirculation pumps.
O&M PTEEMN Retrofit Water

Valuing the Financial Benefits of Energy Efficiency in the Multifamily Sector

This paper focuses on how efficiency upgrades affect the financial performance of multifamily buildings. It also provides a replicable methodology for similar research to be carried out on Elevate Energy’s growing portfolio as well as other multifamily buildings nation-wide. Increasing the energy efficiency of multifamily buildings not only helps owners improve building operation, but also provides a lending opportunity for financial institutions. Energy efficiency program implementers and policy makers who aid in shaping utility Energy Efficiency Portfolio Standards also benefit from understanding the full range of positive effects associated with multifamily energy efficiency improvements. These non-energy benefits (NEBs) can range from improved health to job creation and lower greenhouse gas emissions. In this study, we analyzed the financial benefits of energy efficiency upgrades in multifamily buildings. We also examined building owners’ motivations for investing in energy efficiency. We looked at a group of thirteen buildings upgraded through the Elevate Energy efficient buildings program, formerly known as Energy Savers, and compared them to twenty-one buildings that underwent an energy assessment, but did not complete an upgrade. We also interviewed five building owners who completed upgrades through the program. Interviews focused on learning more about their motivations for investing in their buildings and the financial outcomes they perceive. All of the buildings in this study have naturally occurring affordable rents in low-income neighborhoods. Based on the quantitative analysis of pre- and post-upgrade data, buildings that completed an upgrade experienced a 1.6% median increase in net operating income ($29.10 per unit), a $0.12 per square foot decrease in gas costs, and a $0.34 per square foot increase in rental income six months to a year after the upgrade. In the interviews, building owners emphasized the impact of turnover costs and associated lost rental income on the success of a building. They also discussed the importance of keeping rent affordable to maintain a core group of stable, happy tenants. Overall, our results highlight the financial benefits of energy efficiency upgrades among owners who choose to complete the improvements. The paper concludes with specific recommendations for lending entities, energy efficiency programs, and building owners.
Benchmarking Database Finance Retrofit
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1.1MB

Green Tax Incentive Compendium: Federal and State Tax Incentives for Renewable Energy and Energy Efficiency

This volume presents certain federal and state tax incentives promoting the renewable energy and energy efficiency industries. Each section outlines the basic features and regulatory requirements for a tax program which provides financial incentives for clean technology development through renewable energy and energy efficiency projects.
Finance Incentives Renewable Energy Retrofit
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1.24MB

Net Zero and Living Building Challenge Financial Study: A Cost Comparison Report for Buildings in the District of Columbia

The District of Columbia Department of the Environment have released the findings of a recent study detailing how the District, already home to more green buildings per capita than other large cities, can best craft policy and create incentives to build zero energy, zero water and Living Buildings™. The study, Net Zero and Living Building Financial Study: A Cost Comparison Report for the Buildings in the District of Columbia, was conducted by New Buildings Institute, International Living Future Institute and Skanska and conceptually transformed three LEED v3 Platinum designed buildings to net zero energy, net zero water and Living Buildings. Its scope focused on three commonly developed building types in the District: office new construction, multifamily new construction and office renovation. “The findings in this report are eye-opening. It presents us with a policy framework that will help us achieve our goal to slash energy use to half of what it was in 2010 by 2032, and provides us with the data to back it up,” says Bill Updike, green building specialist for the District Department of the Environment. “The District has a history of leading on progressive green building policies. This report will aid our efforts to further advance the building industry toward more resilient, restorative facilities.”
Renewable Energy Retrofit Water
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3.92MB

Report on Investor Consents for Energy and Water Efficiency Improvements

The benefits of energy and water conservation in the affordable multifamily industry have been documented thoroughly over the past several years.  From the reduction in utility costs to the federal government; to the preservation of affordable housing by decreasing operating costs and thus keeping rents affordable and properties viable; and to the improvements to resident health and comfort, it is easy to see how important the reduction in energy and water usage is to our properties housing low income households.    Yet only a minor fraction of affordable multifamily housing developments have benefited from energy and water efficiency improvements.  This leads to the question that if energy and water conservation is so important to affordable housing, why has so little been accomplished? The answer is not a simple one.  Successful efficiency efforts face many challenges and hurdles.   These include the difficulty of finding financial resources to fund the retrofits; convincing property owners and managers of the benefits of energy upgrades; locating qualified auditors and installers of equipment; and obtaining approvals from property lenders and investors to undertake energy retrofits.   This paper focuses on one of these hurdles: the achievement of investor consents for the performance of energy and water retrofits on affordable multifamily developments funded through the Low Income Housing Tax Credit (LIHTC) Program. 
Consents Retrofit
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178.22KB

Retrofit Case Study: Loft 27, Lowell, Mass.

Boston-based WinnCompanies has cut its electric bill for common areas by 25% at Loft 27, a 173-unit apartment building, as the result of efficiency retrofit and solar projects completed in 2012. The apartment development was created from the adaptive re-use of an historic former mill.
Energy Audit Lighting Retrofit Solar Utility Incentives & Programs
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250.49KB

Cutting Utility Costs: The Residences at Wood Street, Pittsburgh, Pa.

The investment of a mere $1.25 million in energy and water retrofit improvements at a 91-year-old, 16-story mixed-use building in downtown Pittsburgh, Pa. is already generating substantial savings from reduced utility costs, while providing more comfortable living conditions for the residents.
Energy Audit PTEEPA Retrofit Water
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945.88KB

PTEE Road Show Kickoff is an Eye-Opener for Attendees

More than 120 enthusiastic energy- and cost-concerned representatives from a variety of affordable housing companies and organizations filled a conference room in a building adjacent to Philadelphia’s 30th Street Station on April 3 for a frank and incisive, daylong look at the true financial benefits that can be reaped from best practices in energy and water efficiency. NH&RA’s inaugural Preservation Through Energy Efficiency Road Show dug deeply into case studies from presenters who have already benefited from creative approaches to utility cost control, sources of available funding for retrofits and the huge possibilities for a more efficient future even in what Michael Bodaken of the D.C.-based National Housing Trust referred to as a “resource-flat environment.”
HUD PTEEPA Retrofit Utility Incentives & Programs
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412.75KB

Show Me the [Efficiency] Money

Five real estate executives weigh in on what it will take to unlock $1.4 trillion in net energy savings through commercial building efficiency.
Benchmarking Lighting Resident Engagement Retro-Commission Retrofit

Reducing Water & Energy Use in Affordable Housing

National Housing Trust/Enterprise Preservation Corporation shares smart practices for investing in sustainability.
Retrofit Water

Retrofit Depot

Your Premier Resource for Deep Energy Retrofits! You may be able to find a lot of information and guides on energy retrofits, however none are focused on catalyzing deep energy retrofits across the U.S. commercial building stock. To this end, Retrofit Resources offers news, community, and tools for deep energy retrofits that are unbiased by commercial interests.. The site shows you how to build the case for a deep energy retrofit and walks you through how to enact a deep energy retrofit from idea to completion. Whether you're an owner considering the value of deep energy retrofits, a service provider interested in building a skill set, or a sustainability evangelist for your organization, we've got you covered. Dig in.
Retrofit

How to Calculate and Present Deep Retrofit Value

Energy efficiency projects in the United States and around the world are attractive investments, but receive far less attention and capital than they deserve. This is in part due to a narrow definition of their value that typically focuses on saved energy costs. Investors often ignore additional value—a robust land of untapped opportunity that sits just beneath the surface of the saved-energy-cost tip of the value iceberg—to their own financial detriment. Including all value created by highly efficient buildings when investing will enable more low-energy buildings and retrofits—particularly deep retrofits. Deep retrofit value is the net present value of all of the benefits of a deep energy and sustainability investment. The Deep Retrofit Value Guide documents the compelling logic of how deep energy efficiency and sustainability retrofits create value and introduces RMI’s Deep Retrofit Value models, providing the foundational methodology necessary to calculate and present value to retrofit decision makers.
Retrofit

Top 10 Easy Ways to Save Energy in Common Areas

Preparing for another winter is not something we want to think about while basking in the last days of summer but it pays to plan! The Farmer’s Almanac forecast was spot on last winter and it looks like a cold winter is in store for many of us in 2014. Preparing for colder temperatures is essential to avoid budget busting utility bills for your common areas such as hallways, gyms, lobbies and business centers.
Insulation Lighting O&M Phantom Power Retrofit Water
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356.27KB

Energy and Water Savings In Multifamily Affordable Housing

When the American Reinvestment and Recovery Act of 2009 (ARRA) allocated $5 billion in stimulus dollars for Weatherization Assistance Programs (WAP), Pennsylvania was one of four states — Colorado, New Jersey, Kansas and Pennsylvania―that had a well-established staff and infrastructure in a state-wide agency to deliver and administer funds to multifamily housing (Glatter 2009). The Pennsylvania Housing Finance Agency (PHFA), through its Preservation through Smart Rehab program, received $22.5 million of the ARRA monies. The program itself predates ARRA and is designed to preserve multifamily affordable rental units in the state. Beginning in February 2010, PHFA allocated ARRA funds to upgrade 8,288 units in 109 properties. The first property was completed in December 2010; the last was completed August 2012. This report is the initial analysis of the results of that program based on one year of pre-retrofit and one year of post-retrofit utility bills. Of the 109 funded properties, all implemented energy upgrades and 91 had sufficient pre-retrofit and post retrofit energy data to be included in the study. Seventy-seven properties implemented water upgrades and all of them had sufficient pre-retrofit and post-retrofit water data to be included.
Energy Audit Lighting PTEEPA Retrofit Water Weatherization/WAP
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3.84MB

The EZ Retrofit Tool (Versison 2.0)

Stewards of Affordable Housing for the Future is pleased to present the EZ Retrofit Tool. The EZ Retrofit Tool is a Microsoft Excel-based file (minimum requirements include Microsoft Excel 2010) and is available for download here. All user guidance and reference materials are embedded within the Tool and can be accessed by clicking on the ‘How Do I Do It?’ button after opening the Excel file. Under a grant from the U.S. Department of Housing and Urban Development’s Energy Innovation Fund, SAHF and contractors ICF International and Bright Power, Inc. developed the EZ Retrofit Tool to provide a low-cost way for property owners to identify which measures are likely to be cost-effective at their sites. Based on feedback from more than 40 properties, SAHF and its partners pleased released Version 2.0 of the Tool with expanded functionality and an improved interface. If your EZ Retrofit Tool results indicate a significant scope of work and you are interested in learning about opportunities for financing under the EZ Retrofit program please contact ezretrofit@sahfnet.org.
Retrofit

Energy and Water Savings in Multifamily Retrofits Report

Energy and water consumption represent some of the largest operating costs in multifamily properties, estimated at $22 billion per year in the US. The newly released Energy and Water Savings in Multifamily Retrofits report provides a detailed analysis of 236 multifamily properties that underwent energy and water retrofit projects from 2009 to 2012. The report includes results for the U.S. Department of Housing and Urban Development’s Green Retrofit Program and the Energy Savers Program in Illinois and finds that there were significant energy savings and cost reductions for participating properties. This is the first study to examine a large and diverse national data set containing pre- and post-retrofit utility data for both owner- and tenant-paid energy and water accounts. In addition to the findings themselves, the challenges faced in performing this research provide useful insights for others seeking to understand and execute energy and water retrofits in multifamily properties. The report found that the Green Retrofit Program (GRP), implemented by the U.S. Department of Housing and Urban Development, reduced building energy consumption by 18%, and reduced water consumption by 26%. Energy Savers, a project of Elevate Energy and the Community Investment Corporation that targets heating systems in multifamily properties in the Chicago area, reduced gas consumption an average of 26%.
Green Retrofit Program (GRP) HUD Retrofit Water
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2.7MB

Displaying 1 – 20 of 50 files