Novel Financing Program Facilitates Projected Annual Energy Savings of $39,000+ for Digital and Social Media Marketing Agency
Alexandria, VA, May 3, 2018 – Energesco Solutions LLC, a leading provider of energy efficiency and water conservation measures to the commercial and multifamily real estate industries in the Mid-Atlantic, Southeastern and Rocky Mountain regions, recently completed the first comprehensive energy efficiency and renewable power project in Colorado for a marketing agency, Room 214, utilizing the Colorado Commercial Property Assessed Clean Energy financing program (C-PACE).
As the first comprehensive multiple-measure C-PACE energy project, Room 214, located in Boulder, CO, pioneered this unique financing program. The energy measures designed and implemented by Energesco for Room 214 included LED light upgrades, HVAC system enhancements, rooftop solar, building controls, and electric vehicle chargers. Combined, these measures are projected to generate annual savings in excess of $39,000.
Room 214 is the first C-PACE approved Small Business Association loan in the region and the second in the country. As a result of the project, the owners of Room 214 were able to replace outdated equipment and upgrade building systems with energy efficient systems that will save on utility bills for years to come.
Additionally, by using the C-PACE program, Room 214 was able to take advantage of the program’s three key benefits: longer financing terms, no explicit down payment requirement, and a reduction of risk as the financing liability is retained by the building itself in the form of a tax assessment.
“The opportunity to serve as an inaugural partner with the C-PACE program afforded a ‘win-win’ for our client, maximizing the property’s energy efficiency while providing a long-term solution through the placement of new equipment,” said James Lang, Energesco’s CFO. “We look forward to completing future energy efficiency projects utilizing this novel financing mechanism.”
“Working with Energesco was essential to the project’s success,” said James Clark, Co-Founder, Room 214. “Energesco immediately took control of the entire project management process from bid and vendor management, onsite facility review, project engineering, financial review, project management and partner selection. All of which would have been impossible for us to self-navigate.”
About Energesco Solutions LLC
Energesco Solutions LLC (Energesco) is an independent provider of comprehensive energy efficiency and water conservation measures, and renewable power technologies. Energesco’s services include designing and implementing energy and water conservation measures and developing, constructing and operating distributed power generating assets. Energesco assists commercial and institutional clients with energy efficiency measures and renewable power solutions, including developers, investment companies, REITS, retailers, restaurants, hospitals and independent schools. Energesco has the technical expertise and capability to manage projects of all sizes from start to finish. For more information on Energesco, please visit http://www.energescosolutions.com.
About Colorado Commercial Property Assessed Clean Energy
Colorado C-PACE is a financing tool that allows commercial and multifamily property owners to finance qualifying energy efficiency, water conservation, and other clean energy improvements on existing and newly constructed properties, with repayment of the financing through a voluntary assessment on their property tax bill.